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I recently mentioned Best Buy was having a sale on an Aiptek camcorder. I decided to get one for myself after checking out what others had to say. Two words: Love it.
Is it perfect? Hardly. Close-ups tend to get a little blurry. Ditto with zoom feature. But is it a great bargain for the price I paid? Absolutely.
Pros: Portability. The fact that I can stick this sucker in my pants pocket is awesome. I love that I can take this with me everywhere.

Diversity. You can use it as a voice recorder. Quality is pretty good, too. I'm using something I recorded for the July 10 GameBuzz podcast show (a pretty funny Jon Stewart comment about anti-video game violence legislation making the rounds. I just held it to the TV and recorded.)
You can also take still images. Or record something off the TV and watch it on the 2.4" color LCD screen.
Uses SD cards. So when you're done filming, you just pop that sucker in your hard drive. No messing with wires.
Cons: As I mentioned, closeups tend to be blurry. Same with zooming in.
Anyway, I took some video regarding a fishing trip I took recently with my bro. and his son at Lake Brandt in Greensboro. (You'll see what I mean regarding close-ups, but the picture quality in general ain't bad. If you've ever uploaded video to sites including Youtube and Google, you know you also lose some of the video quality. I used Google this time. So the original video is a little better.)