I love this camcorder, but dealing with the AVCHD video codec is a pain in the butt. I'm not able to edit video using iMovie HD, my preferred video editing program. Canon ought to have included a free Macintosh utility program to convert AVCHD to HDV, so that this video I shot could be more editable. I'm hoping down the road Canon will include an option to use the Ogg Vorbis (open source) video codec. I don't mind if the file sizes for video are very large -- as long as I'm able to edit them more easily.
I can easily recommend this camcorder to friends, but with the above provisos.