I've had this camera for almost a year now. I'd say that all of the features that I would expect from a digital camcorder meet and exceed my expectations.
Things that I like the most:
1. Perfect companion for my iMac.
2. Great quality analog-to-digital conversion. A must if you want to play with analog videos in digital world.
3. Solid Canon design, made in Japan if anyone cares.
4. Price.
5. No useless features like in more popular brand.
Things I don't like as much:
1. I think indoors quality is reasonable but it's average with low light. I don't really know if any cameras in that price range do well in low light.
2. Some people complained about motor noise? It's possible, I haven't tried to make any silent movies yet. I add music to all my movies that don't already have some sound.
3. Battery life is short but recharges quickly.
4. Shuts off quickly if idle.
5. You probably wouldn't want to use low-resolution Photo feature espesially if you have a good digital camera but this is probably the only "useless feature".
If you are like me and just like to point/shoot/watch on tv/edit on your computer - it's great.