I love the camera because of its small size and ease of use. It's not a professional motion picture camera, but for some reason I pump better video and sound quality out of it than my friends get out of their 2 thousand dollar, mammoth sized cameras.
It does record on mini-dv, I import it via FireWire and edit using iMovie because I'm too lazy to use figure out final cut.
If you're looking for a small, easy to use camera with great quality, I definitely recommend it. Its only downfall is that you can't attach an external light and mic at the same time, but I use niether.