Choosing a good video camcorder usually depends on the type of activity you plan to shoot.
If its rather tame like weddings and the like, the $5000 HDFs are a must. If its sporting events a mix can be used.
But if its a combo of extreme sports and maybe underwater shots, I would go with the Canon GL2....JVC GR-HD1.....Sony Sony HDR-FX1.. ($1200, $1700, up to $2700).
I prefer the GL2 because I can get all the accessories and still have money left over for a Sony GVD-1000 and a whole bunch of goodies.
Look at what your needs are and if you're doing it commercially, be conservative until the bucks roll in. One of my friends spent his bundle for a pro HDF camcorder, maxed-out his credit cards, couldn't keep up with added expenses and went under.
If you're rich and can afford it, well go for it. The practical approach is advised. If you're doing it for TV production, use their equipment by hiring on. If you on your own, and doing it for the masses, the above recommendations will do fine.