1. I'm jealous of your budget.
Do not be jealous. It is just part of my compensation package. It comes under the heading "training allowance". I get a yearly allowance, which I can also accumulate. Plus, I also get performance bonuses, which are partially taken as increases to this fund. The good thing is, it is mine and is not taxed! If others are in positions to negotiate their comp packages, they might want to consider this.
3.Given your budget, I would definitely recommend getting more than 1 camera (preferably 3) and some assistants. Having more footage and angles to edit from is more important than 1 angle/camera.
I have been doing this with SD. I mount my DVX100B at a fixed location, then shoot manually with the DVC30P (it is much lighter). I get the two angles, like you say. It also allows me to do some split-screen. One cool effect is when a wrestler hits a sweet move, I can redisplay the move in slow motion, while the match is still being shown live.
5.If you need to be matside for the shot you want, understandable. Be aware that the A1s & HV20 do not have very wide angles and it may be easier (and safer) to zoom in from a bit of a distance.
I have to be pretty close. Otherwise, I have people walking in front of the camera. Or, I am forced into too high of an angle to the mat. That is not the ideal position for capturing wrestling.
6.If you get "down & dirty" with the subjects, you might want to consider something like the Fig Rig. It's the dorkiest thing, but after borrowing one from a friend that swore by it, I converted. It allows for some really great shots from awesome angles that you'd otherwise need a dolly or crane for (which is not always possible). For closeups in wrestling, rent one and see if it is appropriate for your needs.
I have seen those, and you are right, they do look...hmmm, peculiar. However, I would gladly use one if the situation warranted it. I have found that the best way to shoot is 'camera in hand', on one knee, or in a semi-lotus position. The best results are obtained when you have both wrestlers taking up 75-80% of the viewable area. So, you have to really be working the pan, zoom and focus constantly to achieve that. Early on, the person watching would be aware of the camera movement. Now, I can shoot with very little of that. The main thing was just getting a lot of practice and being able to anticipate where the movement was going to go.
7.Don't forget to budget for audio (crystal-clear grunting?).
Fortunately, that is something I have not had to deal with too much. Wrestling tournaments are usually pretty noisy, with a great deal of crowd noise. Two years ago I made an audio track of generic crowd noise. So, I add that track with the actual audio. Then I purchased a few volumes of royalty free sports-oriented background music. By adjusting the sound levels, I can usually get a decent soundtrack. I am sure I am doing this wrong and not 'by the book'. But, it seems to work. Someday I will meet someone who can explain how to do it right. Or, maybe I will take a class. Everything I do has been learned by reading and experimenting.
good luck - Thanks!