If you're looking for an inexpensive video recording solution, the Zoom Q3 is worth checking out. It just came to Amazon.com today for $249.00, which is pretty great for a hand-portable camcorder with HD audio.
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The Q3 features built-in stereo condenser microphones, a 2 GB SD card (with up to 32 GB SDHC cards accepted), a camcorder capable of 640x480 video resolution at 30 fps, on-board editing software, YouTube uploading software, and Apple Quicktime. The back of the device mounts a 2.4" LCD screen.
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While the Q3 is capable of recording up to 16 hours of video (with a 32 GB card) its battery life leaves something to be desired. The company claims that 2 AAs will give you about 2 hours of life. If you intend to be out and about with this thing, you'll need to bring a pocket of batteries with you. That's a bit of a pain, but this device is pretty much designed for YouTube video recording. And for that purpose, it's pretty much perfect.