Well, I imported mine from Japan (and saved myself some money in additino to getting it earlier), but I'm pretty sure it's supposed to already be shipping in the US
Anyways, I love it. For the video, I put it to the ultimate camera nightmare shot test: a dance club. With the median light level next to nothing, but enough bright lights and lasers to bring the dynamic range larger than can be well represented most of the time, it picked up colours and lighting pretty darned well (actually, pretty much as well as I could see things myself heh). More importantly, because it uses Motion-JPEG instead of H264 or MPEG-2, with scenes that have very high movement, the quality isn't lost at recording. For instance, in my club test shot, I was able to see absolutely crystal clear rapidly moving lasers that would normally shred apart in a time-based compression scheme. I've got a sample file, but it's been compressed so as not to kill my bandwidth, but you can check it out. I don't have any daylight videos to show, but from what I've tested, it's monumentally better (and this already is quite good). The only trouble with the club shooting I found was that sometimes it was unable to focus all that great, but shooting through fog lasers constantly and zoomed at 4x I think I can forgive it. The image stabaliser works well, although granted is standard on most cameras made nowadays.
For still shots it's pretty good as a candid/point and shoot camera. You can do some more manual set ups than in past SD-series, but not quite as much as in their higher end models. Overall it's a good hybrid, and if you do traveling, etc, it'll be great. I personally can't wait for water polo season to start back up, because from what I can tell so far, we'll be having some amazing quality videos.
Oh, and for cards, I got a 4 GB SDHC card from Amazon for about 40 bucks. At high quality HD that spots you 17 mins of video, and at "low quality" (which unless you KNOW what to spot for it is nearly indistinguishable. If you do lots of video work it should be obvious but a consumer shan't notice hardly anything) gives you around 30 minutes. I know 8GB cards can go for 70-90 these days, which of course gives you about double that recording time.
The only major downside to the TX1 is its battery life. It just doesn't last as insanely long as my SD630 which could fill my SD card before it went dead. This one you can definitely run into battery issues, but again, Amazon sellers search for batteries can get you some cheap ones (I think I paid 7 each maybe) and well worth the small investment. Incidentally it uses the same batteries as the SD series, so if you already have some spares from those you can use them.
Oh yeah, the actual sample video (the first isn't enabled for a fast start, both have been recompressed in H264, hence the artifacts):
http://mateo.elahorcado.net/video/pvd110507.mov (360p, 13MB)
http://mateo.elahorcado.net/video/pvd110507hd.mov (720p, 46 MB)
A note if you plan on using the movies in iMovie. You can't import directly into it, rather you can either use Image Capture or iPhoto to get them off of the camera and then drag it into an iMovie HD project (or for zero-conversion, save the project and quite, and dump the video file into the project's media folder, then reopen and drag it from the trash to the clip shelf).
Hope that's enough information for you, if not let me know... I personally love the camera if you can't tell. The TX2 should be great if they can fix some of the small cavets.