Having had this camera for only a few days, this review is somewhat preliminary but I have owned a couple of Sony cameras (TRV900 and FX2100)and my first impressions are generally good.
First of all, it feels good in your hand and the unit feels solid. The hi res lcd screen is great, I just wish they'd make it as big and bright like the 3.5" on the TRV900. The lens is great with a nice wide angle of view, but it does have a bit of barrel distortion. The tele-extender does not have a smooth transition from optical to digital like most zooms, it's a tele-extender on the lens, making it more of a telephoto zoom. I was surprised by this design, it seems a digital zoom beyond the regular optical one would be better since it would give you a continuous 30x zooming range.
The left side of the camera is cluttered, more so than it needs to be. I think Sony sometimes changes things that don't need changing, like moving the scrolling wheel to the side where it's lost in a maze of buttons. This may sound nit picky, but when you're in the field shooting you want simplicity. The less you have to think about the controls, the more you can concentrate on composing. I do like the iris ring on the lens barrel(one less reason to try to find that scroll wheel!). The built in mike actually sounds pretty good but a Rode Video Mike or similiar would probably be worth it.
I played with the "cinematone" stuff and the jury's still out for me. Video does not look like film. I've seen too many cameras with 24p, 30p, Progressive scan, etc that just looked like jerky video, not film. I think it can be a useful feature but it doesn't turn your footage into "instant film". Anytime I've tried to make my footage look like film, I've had to do each scene in post, separately.
Anyway, the low light capability is very good, and the resolution is stunning if you're going to hi def for the first time. Supposedly, HDV is a less efficient codec than AVC(with more artifacts)but I have not noticed any, even in low light. Tape has it's limitations(1hr recording, dropouts) but I haven't had any. I'm using the regular Sony tapes not the fancy HD ones (and they're cheap)! Tape is also an great archive format.
That's all for now, if i have more thoughts as I go along I'll update this review. Hope this helps.
Recently shot a wedding with this cam and it worked great. The 20x zoom came in very handy during the ceremony considering I couldn't move around. The auto focus worked perfectly 95% of the time allowing me to concentrate on composition. The built-in mic provided good sound quality. I did use a wireless with an external XLR adapter during the ceremony that worked very well.
Overall, I think this camera offers a very good bang for your buck in picture quality if you can live without the XLR inputs but you'll need to get used to finding the scroll wheel. Highly recommended.