I purchased this camcorder to make a low budget movie. I was impressed with how many features (like 540 lines of horiz. resolution) were available on this camcorder that were hard to find on anything but the best quality professional mini-dv camcorders.
The image quality was great when adequate lighting was used, and there was no picture distortion, even on a larger (close to 50") television. I recently had trouble with the tape loading mechanism, but that could just be my fault.
Pros:
-1.33 Megapixel CCD hard to find on less expensive camcorders
-Sharp LCD screen
-Viewfinder has diopter (so you can take off your glasses)
-Accepts many lens attachments (I use a wide angle and telephoto lens from Sony)
-Body feels strong, not cheap and light like many Sonys or Panasonics
-Some of the picture effects are useful (like shutter speeds)
-Digital Wide Angle setting (allows you to reach <1x zoom with built in lens)
-Great battery life for included battery
-High quality mic preamp built in
-Amazing picture quality for price when used in good lighting
Cons:
-Bottom loading tape (can't open with tripod attached, but few cameras don't have this now)
-No focus ring (you have to use the tiny scroll wheel, but focus rings are only available on camcorders that cost $1000+. Just use a telephoto lens if you need to pull focus)
-Remote sensor can only be used in front of camcorder
-Poor low light shots (just use good lighting)
All in all, this is a great camcorder for making low budget movies, as long as you have decent lighting. Many options are available in manual mode, allowing you to have more control over picture. Automatic mode works great too.