Pros: Compact Design, excellent image quality, Easy TV Connectivity, Easy Computer Connectivity, Accurate, Vivid Colors, Ergonomic/comfortable to hold, easy to use, Good Software Compatibility, Good Low-Light Performance
Cons: Short battery life
I am in love with this HV10 camcorder. IMHO, the Canon HV series (HV10/20/30) are THE BEST consumer HD camcorder models around. They share the same specs for video recording so produce the same image. I like the upright form factor of the HV10, while the HV20/30 is more a traditional form factor. These cams that use the miniDV format give a much better HD picture than the newer AVCHD models based on hard drive, flash drive, or DVD (yuck!) recording. Plus, with AVCHD where are you going to store all your footage over the years? Also, AVCHD requires the fastest computer to process, while the HDV standard of the HV10 can be edited on almost all computers and is compatible with more software (I use Apple's iMovie and it works great).
The HV10 is the worlds smallest and lightest HD camcorder. With such a small cam it is not a burden to carry it around so you will bring it to EVERYTHING and will ensure you will not miss any footage.
The only con I have of this camcorder is the stock battery has a fairly short life (probably about 50 minutes recording time using LCD and on/off recording). For many situations you may only record 15 or 30 minutes, so you don't need to worry. But for vacations where you may shoot off and on all day and you don't know how much you will get, I would recommend the Lenmar equivalent of Canon's next size battery. (That's what I bought.) Avoid those generic batteries on ebay coming from China. I tried those and they are horrible. Lenmar is best bang for buck.