I have a Canon Legria FS200 camcorder. I looked into getting an HD camcorder but figured out that if I started working with HD I would need to buy a new PC (or at least upgrade the motherboard), adding about £500 to the price of the project. I bought the Canon mainly because it was one of the cheapest I could find that has a reasonable amount of manual control and, most importantly, an external mic input. In the end this turned out to be a wise decision as you get
a lot of wind noise off the internal mic on anything but a still day.
The reviews I have read criticize the low light performance which I suppose is fair enough although I don't really have anything to compare it with. I wish you could select non-interlace as I am extclusively working on a pc so it looks rubbish until you have converted the files to something else.
The colour rendition is fabulous. I thought it was a bit brown at first but then when I went back and looked at the scenes I had shot I realized that the colour rendition is in fact incredibly accurate.
I've got an old pc (1.6GHz AMD processor). I downloaded the Sony Vegas editing software as a trial as it was the only one that didn't need a 3GHz processor and a dedicated hard disk. Vegas is fabulous! It is so fast and immediate. Don't believe the people that say it's hard to use. They are just used to using Adobe Premiere. If you don't have any preconceived ideas about how to do something then Vegas is very easy to use and the "Show me how" mode is brilliant.
I bought a new graphics card, an nVidia GeForce. Because my pc is so old I basically had a choice of one. I was a bit disappointed until I downloaded an nVidia driver that optimizes MPEG replay. Everything plays really smoothly now.