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I have that camera, and actually shoot content on it. Great for web "HD", and downconverting to DVD. The 720p WMVs look awesome. With the 4GB card included you get about 40 minutes of content shot in the highest quality. Haven't tried any other setttings then highest. I've got an 8 GB card, and an extra battery. 80 minutes of video (highest quality). Battery only lasts about 40 minutes, so plan on an extra.
One warning. AVCHD can be a BITCH to edit. I had to dump Premiere and get Ulead Video Studio 11+ to editi these. Work arounds and stuff, but I've got it down now. Just know that your normal editing workflow will most likely not work.
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