Pros: Overall, I like the form factor as well as ease of use. For the price ($427 at Circuit City) I was comparing it to the Sony HC32 that was $50 more, I was already spending more than I had planned and one of the deciding factors was the full one year labor
Cons: There definately is a bit of motor noise when playing the tape and while the size is nice, the sony is a little more compact.
Summary: So our Sony HI8 died after only about 20 hours of use :( We decided to give a canon a shot. The ejection door for the mini tape seems less "mechanical" so fewer things to go wrong. This camcorder is very easy to use. you are able to take decent pictures while taping video and it does not interfere with the video. Some people complain about "motor sounds". I don't here it, even in my kid's room at night when it is silent.
Pros: Well, I just purchased this well made little camcorder today, and so far I am really enjoying it. I recorded my daughter playing the piano and the picture and sound were quite nice! I know there were complaints with the Elura 50 about videos in low light
Cons: A bit of motor noise heard on playback, but not too severe. Screen is somewhat small, but I can see well enough with it.