
Jerky video playback in the Preview monitor is usually caused by a under-performing computer CPU. Apart from DV-AVI, which requires very little processing power, most video codecs are requiring increasing CPU power to process. In the case of HDV MPEG 2, a dual core system equivalent to 2.5ghz is necessary to get smooth playback. AVCHD requires an even faster CPU. Playback smoothness will also depend on the effects applied to the object/clip. Effects, depending on their nature, require extra performance to process and may result in jerky playback when the original clip played smoothly.
There are a few things that can be done to improve playback performance:

Help has a reasonable explanation on the Playback screen: Search for "cache".

For more info on this screen, search Help for "Video/Audio".

For HDV files eg 1440x1080 MPEG 2 from my HV20, I find Compatibility mode is best.
For AVCHD files, "Hardware Acceleration (Direct 3D)" from the dropdown list, and then tick "Acceleration for Hi Res MPEg files".