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Camcorder Advice

OH wants me to buy a camcorder/video camera to film the kids while they're growing up.

Any advice on a not-too-expensive model that will be simple to use?

We've got a Full-HD Plasma that we'd watch them on, but I'm not sure about storage - can they go on a PS3?
Any editing would have to be done on my Mac, so compatible software essential.

Is HD worth it? or will SD be sufficient (I'm no Kubrick).

I'm not even sure what I should be looking for. I've got years of experience of stills photography, but I've never owned or used a video camera of any type.

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