I have owned a small wedding videography company for 5 years and after using the HFS10 for a week I am incredibly pleased with it. Please note the HFS10 is identical to the HFS100 except the HFS10 also comes with 32GB of internal flash memory.

If you want the smallest camcorder you can get without sacrificing video quality in any way, than this is the camcorder for you. I am amazed at how small this thing is while still having a professional grade lens. This is the same Canon lens as on their GL2 which is probably the most popular entry level professional camcorder ever (which I have owned for a few years).

Pros:
1.) Professional camera lens with superb HD video quality (even in low light situations). I cannot express enough how amazing the pictures look.

2.) Accepts up to 32 GB of SDHC Flash memory
A.) Flash memory is instant. No waiting for tapes to wind or hard drives to spin. The camera goes from off to red light recording in less than 2 seconds.
B.) Flash memory helps keep the camera small.
C.) Flash memory protects data from being lost due to the camera being dropped or hit (a real problem with hard drive cameras).

3.) The still picture quality, even with the built in flash, is unbelievable for a camcorder. I feel like I am shooting with my Rebel XTi.

4.) I love the auto open and close lens cover. It only opens when you are actually shooting. If the camera is off or if you are reviewing it immediately closes.

5.) Menus are very easy to navigate.

Cons:
1.) Doesn't come with an HDMI cable. Since it doesn't take a normal sized HDMI cable I think there is no excuse for that.

2.) Doesn't come with a battery charger. You either have to spend $50 to get one or recharge batteries using the camcorder itself.

3.) No internal memory, however it's $200 more for the HFS10 for only 32GB of internal storage and that is way too much. It should have only cost an extra $100. Unless you need to be able to record more than 2.5 hours of shooting without changing SDHC cards, then get this camera because a 32GB class 6 SDHC card only costs $100.

4.) Only comes with the BP-809 battery which doesn't even last an hour. So you will need to buy the BP-827 which costs another $150. The BP-827 does stick out from the back just a slight bit, but not even an inch and is totally not noticeable nor does it add any real weight.

5.) 10X optical zoom is a little slim for my liking. I am used to 20X.

This camcorder is basically a professional lens barrel with an LCD on the side which gives you the best picture quality possible while keeping the size incredibly small. I cannot encourage you enough to get this camcorder.