The HV10 uses the HDV format that records 1080I high-def signals on blank MiniDV tapes, similar to the Sony Handycam HDR-HC3 ($1,399 US)–and much more expensive Sony HDR-FX7 ($3,499 US) and Canon XH A1 ($3,999 US). Video quality is very good. Don't take our word for it--you really need to see it on new flat panel TV to appreciate it–and some retailers have displays that do just that. Canon was a little late to the HDV game–as they are always laggards when it comes to new video technology. A very conservative company, they'd rather let pioneers take the arrows to determine if there is a market. Once it's "real," Canon jumps in. That's why Canon's first generation HDV model arrived late in 2006, almost 18 months after Sony's HDR-HC1, the first really consumer-oriented HDV camcorder. But that's ancient history. How does the Canon HV10 fare–and should you use it to record your New Year's revelry?