I too, am beginning my camcorder search. I think you need to considering two things - (1) the camcorder itself (i.e. video quality in different settings, features, handling, etc... camcorderinfo.com is a great site to use for research) - and (2) the file format! I'm moving from MiniDV to SDHC, mainly because the industry is forcing me too! However there seem to be A LOT of nuances regarding AVCHD formats. I'll do some more digging in the forums and let you know what I learn.
I already bought $1,000 camcorders - now I want a $400-$500 one!
I have to admit I'm still somewhat amazed that so many people are buying hard drive and/or SD-based camcorders. What are they doing in regards to archiving the original files?!?!? I have ten years of miniDV tapes all in a row that I can suck into my computer at their original highest quality for editing (although the older ones are probably ready to be dubbed over to new tapes). I have a non-techie brother - he just buys a new SD card for his still camera when the old one fills up!