The Z1's LCD can be calibrated (use a Hoodman, though). Keep in mind, an SD monitor is 601 colorspace and HDV is 709, so colors may not match. If you can, get a cheap LCD HDTV, even if it's 720p, and calibrate.
I've directed two shorts, one shot on the HD10 and the other on the FX1. I produced a horror short shot on the Z1. My feature will likely be shot on the Z1.
The XL H1 is nice, I'm testing it, but a bit pricey and tough to edit right now.
heath