If you are looking for hd if i were you i would save up about 700 more and find a Sony FX1. Its decent at night and its a good 1080i camera. Anything less is only a 1 chip camera and there are some issues with those.
final cut is the way to go, but it also is expensive at 1300, but you can get it for 500 from a university. yes it is way worth it. Everything at night will look way better and with those one chips there are not a lot of manual options. The 3 chip cameras also do better with motion and camera movement. Essentially there are 3 chips to pick up the light and motion instead of just one.