Currently you have two ways to go:
A DSLR capable of video and an HD camcorder.
Both have their pro's and cons.
Hands-down, the greatest benefit of HDSLRs is that of interchangeable lenses furthermore they can be used to shoot both high-quality stills and video which give consumers the convenience of an all-in-one package, image noise at high ISOs are (usually) more controlled than on camcorders, the dials and quick-access buttons on the bodies can greatly help with manual settings, also the depth and dynamic range of colors are quite often much greater than on a traditional camcorder.
But there are cons, If you're not using a tripod/glidecam, lenses with image stabilization (or bloody wide angles) may be required for best results and in that case, microphones may pick up the sound of the stabilization motors or the focusing, Zooming is not smooth, Many of these cameras have CMOS sensors, which are prone to what is known as the "Jello Effect." This is because of the way that CMOS sensors record images. Micro Four Thirds cameras, which use a LiveMOS CCD sensor, do actually not suffer from this problem but that's another category. And users cannot make use of the viewfinder while recording, unless the camera has an electronic viewfinder.
Now for the camcorder, Consumer camcorders have a compact build, which means that you can throw it in your bag with ease (don't throw it do, place gently), camcorders have an ergonomical advantage—they can easily be held with one hand for a prolonged period of time which is possible with a DSLR but alot harder, they come with many ports that can be used for accessories like a microphone, headphones, video lights, etc. which a DSLR might not have a require several adapters to do so, pretty much all camcorders have a vari-angle LCD screen of some sort, which makes it easier to record at different angles, zooming can usually be done with a finger pushing or pulling a tab of some sort. Achieving accurate autofocus is much faster than with an HDSLR.
Now for the cons, depth of field is very wide, so it is harder to single out particular people and objects or bokehwhoring. If you want to shoot wider or more telephoto than your lens allows, you'll need special adapters/converters. The LCD screens (usually) aren't as detailed as an HDSLR's, None of these shoot good still photos, just in case you'd like to have a more versatile device, filters are not always able to be attached to the front of the lens and using DSLR lenses with a camcorder can be accomplished only with expensive adapters.
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