Did you adjust the mic gain to different settings and try turning any attenuation available on and off to see how that adjusts the quality of the audio? My HF-100 has very good ability to manage mic gain and I've not had to buy a boom mic or otherwise use an external mic for what I use it for. I've been looking at this camera and wonder if the mic is really this bad or what?

If enought people complain about the audio next release they will fix this problem, cannon also add a view finder and make it more wideangle coverage then this will be a dream camcorder until then I will stick to the 7D for my videos

Yes, I did try various audio settings, but the audio hiss level is far above the levels of any of my other cameras. I direct a documentary studies program at a university and we have around 12 canon cameras that students sign out. This camera is by far the most "hissy" of all of our canons. As you can see, I'm not against Canons, I just wanted this "could-have-been-great" camera to have BEEN great. I'll probably return it for service, but need it for B-roll footage right now (the video is great).

Thanks for the feedback - What camera would you recommend instead of this particular model?

We have switched our program's purchasing to the Panasonic HDC-TM700K -- which comes with 32GB Internal Flash Memory and an SD/SDHC card slot. There have been a few complaints about the fan noise (since this camera is capable of recording 1080-60p it requires more cooling), but I have not been as bothered by it (it is very low). Moreover, we use the cameras with XLR adapters and almost never use the built-in microphone (first lesson to my students is NOT to use the built in microphones). Overall I found this camera better than the SONY HF S-21. For the record: I own no stock in either SONY or PANASONIC and am totally unconnected to them. I purchase items for students in a Documentary Studies program. I know that some reviews on Amazon and other sites are by corporate employees; I am not.