You have a bought some serious kit and a good choice of model too!
A good HDMI is a must, What Hi-Fi dont review them for nothing you know, there is a difference in picture quality depending on how much you want to spend. Yes a HDMI passes 1's and 0's but that does not mean that from one to the other you are going to get a picture you deserve, i have tried this for myself, we have tested a average HDMI costing around £20 to another one costing £60 (Van Den Hull Flat, What Hi-Fi cable of the year 2008) and there is a massive difference, its sharper, motion is perfect and sound was improved.
So in reply to your question, yes you need a good HDMI, i would recommend the Chord Supershield that won cable of the year 2009 from What Hi-Fi as this cost's around £45.00, that is not a great deal of money to pay to help your V10 Panasonic perform and look great with your recorder.
In terms of setup, there is not much to do apart from plug one end of the HDMI into the recorder and the other end into the TV. The aerial goes into the recorder and then back upto the TV. The TV and Recorder will tune them selves in automatically out the box and will be ready to use. In terms of picture calibrating, get a hold some THX glasses and calibrate to a THX certified movie like Indian Jones on DVD as an example as that includes the calibration process, otherwise have a play with the settings and see what you like best.
Regards> M