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HDD (hard disk cameras) are very limited with editing software currently. Things will get better but not yet.
Tapes are the way to go still- even for serious dig. vidoemakers-
plus- if you are shooting with hdd and need more space you have to dump earlier material- way easier to pop in another tape and not miss any action- imagine taping a race or your kids soccer game and having to quickly decide what and where you gonna dump footage- not cool . . .
the canon hv20 is the camera these days- the sony hc7 as well- sony offers the night vision only so . . .
the canon hv20 is rediculously good- 799 at frys-
and, if you shoot with a 35mm lens adapter (you can buy for a grand plus or make one for a couple hundred! then the footage can look truly film-like and totally awesome- totally awesome . . .!!!!
good luck.
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john-carlos ynostroza
88 G50 coupe, black/black
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