Nikon D5000 Live View /Video Mode feature issues?

When in video mode although I'm getting an image that I can see well enough on my cameras live view it is not truly giving me an image on screen that correlates to the cameras current settings as with say a Canon 7D or 5D.

Example, if I were standing outside my house at noon and have the iris wide open and an iso setting of 1600, looking at the screen everything will looks fine even though that really would result in a completely over exposed image. Is there a way to adjust the 'Live View" settings so that you are getting a true representation of the image you would capture at the cameras current settings? Or am I asking to much from a consumer level camera?

Question 2 or really question 1a
When in video mode, I can record a clip with my iso set at 200 but the resulting video clip will look the same as when I set my iso to 1600 capturing the same scene? It seem that the only latitude adjustment I have is by stopping down on the lens itself.

is there a way to adjust this or is it, once again, just the limitations of a consumer level dslr?

Thank you for any help, tips, pointers or responses

Added (1). It seems I'm getting responses that pertain to photography when nowhere in my question or the question header did I ask a photography question. I'm familiar with the principles of photography however both of my questions are specific to the NIkon D5000 and the picture you get in the LCD while in VIDEO MODE…

---UPDATE-- for anyone else out there who has this camera ( and is shooting VIDEO with it) I have found the answer. Although the camera lets you think you are making adjustments to the ISO and Shutter Speed due to the fact the numbers/settings change you are not in fact changing those settings. The camera automatically determines the necessary values and applies them. The only adjustment you can make is 1) the iris and 2) to use the AE-L/AF-L lock button and point the camera to a lighter or darker area of your location and then lock the exposure the camera sets itself to. It is in fact just a limitation of the Nikon D5000. I'm assuming they resolved this on the D5100 and hi

This question would be better answered in the Camera section, since those are are camera specific questions.

Example 1. If you were to use the regular viewfinder, one a bright day, with the iris open and iso set to 1600, you would get a normal view even though the picture would not turn out. Why should live view be any different? At least with a digital camera you can check your exposure and settings immediately after the shot to confirm that instead of waiting on getting your film developed. An experienced photog pretty much knows what settings a situation requires without being instructed by the camera. I don't know what camera you have, but my consumer P&S live view does show the affect of iris and iso using the recommended shutter speed, something that is impossible with a pentaprism viewer.

for video you can set iris, iso and shutter. It is no different than still photos. Some cameras can't use a shutter slower than the frame rate ie 1/30th sec in video mode but others can. Assuming the dSLR is in auto exposure, your changing the ISO primarily affects the shutter and iris auto settings. Inside a wide latitude, there's a compensating iris and shutter for a fixed iso selection. This is called reciprocity.

before you leave the full automatic world of consumer cameras, you should take a community college course in photography, or at least read a good textbook.