We've actually shot quite a bit of HD footage with this baby, and it's the real deal, with 24p HD recording and more than 20 other ways to turn light into data. It's all solid-state, too, laying down its digital footage on P2-format flash memory cards whose prices are also consistently plummeting. And oh yeah, this one also records onto DV tape at the same time if you wish, so pick your format.

This is one hell of a price, hardly more you'd pay for a high-end DV camcorder. With prices dropping like this, we're figuring this model will probably be replaced at NAB in April. Still, this is an excellent HD camcorder at an unusually low price.

UPDATE: Readers tell us this ExpressCameras is a scam operation, using intense bait and switch tactics. It's being sued by the state of NJ, caveat emptor. It looked too good to be true... sigh. Jump to see the allegations against the company:

The specific allegations include:

* Failing to sell merchandise at the price advertised on the company's web site;

* Charging or attempting to separately charge for accessories or equipment that the Original Equipment Manufacturer included with the merchandise (for example, camera batteries and/or battery chargers);

* Charging consumers inflated shipping and handling fees;

* Failing to provide any price reduction for merchandise which appears to be on sale or reduced;

* Failing to inform consumers at the time of purchase that some or all of the merchandise is out of stock; and

* Refusing to permit consumers to cancel an order or merchandise upgrade prior to shipment.

The company allegedly used terms like "Price Drop", "List Price" and/or "Our Price" on its web sites without providing any price reductions for the advertised merchandise.

Panasonic HVX200 [ExpressCameras]
Comparison: Panasonic HVX200 vs. Sony HVR-Z1U [Digital Producer]

The big news is 24p, that frame rate that sounds slower than the garden-variety 30fps, but is coveted by filmmakers because it's the same rate that film has used for decades. It gives footage a highly sought-after, special look, and now it's available in a 1080p resolution.

More details and pics after the jump.

The 24p footage coming out of this camera is at a higher rez than other cameras deliver in this price range, where the vertical resolution is a full 1080 lines. In a somewhat convoluted process, the horizontal resolution is captured by the CMOS chips at 920, though, not the full-raster 1920, and interpolated in the camera to 1920/60p, and ends up being recorded at 1440 to comply with the HDV format.

But don't let all the trickery scare you. After playing with this camera for a few hours and looking at lots of its footage, I must say the 24p look of this camera is remarkable. It's the closest to full HDTV I've seen this 25mbit/s HDV format get. That's helped along tremendously by its CMOS sensors, instead of the CCDs of previous HDV camcorders from Sony and others. These refined CMOS sensors give the camera better interpolation, higher dynamic range and increased perceived resolution, too. It's all good.

Even though the implications of the camcorder's 24p-ness were large, size isn't everything: The camera feels compact in the hand. Another big story is its tiny (and optional) hard disk that you can attach to its top where the shotgun mic usually resides. I especially like the hard drive's recording parameters showing up in the pro camera's viewfinder. Plus, shooters will like the backup aspect of it, where they can shoot to both HDV tape and disk with that extra assurance of redundancy. Sony calls this a "hybrid recording system," where you can shoot your master and archive at the same time.

Overall, this is a strong release from Sony, and I think pro shooters will all stand up and cheer that there's finally a 24p camcorder in this price range that handles HDTV so well and has XLR audio inputs. Oh yeah, it even has an HDMI port, too. Sony says the camcorder will be released in early December for $4800, the hard disk recorder will be $1800. Insiders are saying this pro gear might be on the market even sooner than that. We can't wait to take this baby out in the field. – Charlie White

Extended report, more pics [Digital Video Editing]