Mike over at HDforIndies.com
has taken a look at several cams that appeal to would-be directors with more dream than dollars. It's easy to say "cool, I can get a high def camera for cheap", but if you don't take into account the lenses available, frame rate options, supported resolutions, what you'll be saving the footage to etc. you can find yourself with the totally wrong camera for your situation.
Now all I need is a black leather couch and some cheesy synthesizer music and I'll be in business.