Summary: I am very happy woth this product. The picture quality is excellent, the controls are more intuitive than my last camera... making changes in the settings is far easier. This was the least expensive 3 CCD camera I could find but it was about half the price of the the mini dv 3 CCD camera I bought a few years ago. It's rather amazing.
Summary: JVC has a terrible proprietary .TOD video file format. Once you get over that obstacle though, this particular Everio camera has the X.V. Color booster which is the only true reason to buy this camera over any other in its class. The color is excellent and does fairly well in low-light conditions in comparison to others of its type.
Summary: This camera is a great HD camera and at a great price (that's what happens when six months pass since a product introduction in the consumer market). However, the lack of the ability to edit HD files using firewire is a big problem. To use firewire you need to record in less resolution 1440 (instead of 1920x1080) which doesn't permit great high resolution files to be downloaded automatically with firewire. My Macbook Pro has firewire and I am used to iMovie for editing.
Summary: Pros : Nice camera - vivid pictures and movies. Compact and easy to use. 120 gig hard drive is very nice. Cons: Battery life could be better. Editing software is OK. Does not allow you to use Windows movie editors.