This little camera is amazing. No reason whatsoever for a full camcorder. For the size and convenience of this device the sound and video quality is superb. Having 60 minutes of video capacity has always been enough as I rarely shoot more than a few minutes in a given day. Downloads via the USB (rather than memory card) make things even easier.
Cons: The zoom feature exists but is hardly worth using as it is very minimal. We have also struggled viewing video files on the computer without the flip software. We ultimately downloaded their proprietary software from the flip.com website for free. With this software installed basic editing is easy but we still have trouble locating files on our hard drive from time to time.