A friend, after a solid amount of researching, ended up with the canon HG20. I really think the whole HG line from canon is very nice and priced well, but they are a little on the expensive side.
The HG20 is around $800, but you get a camera capable of taking 1920x1080p video at 24 frames per second, to a hard drive with 60gb of storage. A lot of cameras out there are high def, but a lot of them suffer from at least one of two problems: being only 720p, and recording to media other than a hard drive. hard drives can hold so much more data than discs, and are leaps and bounds easier to use than mini-dv. The HG20 also offers lots of professional accessories, like external mic, tripod, zoom lens, and hand stabilizer.
With everything video going high def, to me it seems silly to go with a camera that does less than 1080p, and just as silly to get one that records to a media other then hard drives, as they are really the only option for storing a good amount of high def content. The price of the HG line may be a little off-putting, but considering i've known people who spent considerably more for similar ones in the 90s that recorded to VHS and weighed about a hundred pounds, i think its a solid deal.
Oh, and did i mention that the HG line is also very small? It easily fit into my friends pocket. We recorded several concerts in HD, and not only did it do a great job on the video, but the audio turned out pretty good too. Lots of settings, and the light weight meant it wasnt super hard to hold up for extended periods of time.
Wow, i sound like i work for canon. Seriously, we both really liked the camera, i think the only thing that would keep anyone from buying it is the fact that lots of companies put out cheap $200 models, which makes the nicer HG line seem a bit pricey by comparison. I think its totally worth the cost.