so do we have HDMI output bypassing compression?

On the HVX? No.

Typically, one would use SDI or HD SDI for uncompressed camera outputs, rather than HDMI. See the Canon XL-H1 for an example.

Personally, I prefer the DVCPro HD codec, or the soon to come AVC-Intra codec. Uncompressed is TOO HOT. HDV is TOO COLD. Intra-frame coding is JUST RIGHT. ;)

(If someone is willing to buy me a giant RAID array, a nice uncompressed capture system and a means of archiving, I might reconsider my TOO HOT statement. But until then...)