Mini DV- it's tape and archaic by today's standards and although you're using a digital camcorder, tape is still analog. Tapes can get eaten, and if you do enough recording you'll have it happen to you. You have to grab the clips when you edit which is really a pain. You take a hit in image quality when you convert from analog to digital. You can't just drop the files on a flash drive and plug it into a TV or other playe
Not to be overly pedantic, but tape isn't analog. Tape is a storage medium. The data on the tape is stored as either analog (hasn't been produced in consumer form for years) or digital (such as MiniDV). A camcorder that records in DV format is digital, regardless if it records to tape, flash or DVD directly.
While it's true that converting from A>D or D>A will typically suffer image degradation, this isn't true of MiniDV, since at no point does it ever go analog. It goes from digital tape, over firewire to your harddrive. And I wouldn't say tape is archaic. If you want to go on vacation and not bring a laptop to download your video to every night or spend a fortune on memory cards, tape is a great way to go. MiniDV tapes are incredibly inexpensive. Comparatively, 1.5hrs of FHD video is ~16GB. 16GB memory cards are *way* more expensive than MiniDV tapes.
Otherwise, I absolutely agree with everything else. If you're buying a camcorder today, it's silly not to go with a FullHD camcorder with the way prices are. Get a model that has a memory card slot. It's fine if it has a built in harddrive or onboard flash memory, but get something with an external memory option. It's a real pain when you fill up the harddrive and don't have any options for buying more memory, the only thing you can do is get to a computer and download what you have to free up more memory.
I would highly recommend picking up a model that has optical image stabilization, it makes a world of difference, especially when zoomed in. H264 /AVCHD is the newest technology when it comes to compression, definitely look for that if you're buying a HD model.
There are numerous models of the "same" camera out there, the only difference from one model to another is the amount of memory it comes with, IE the base model comes with no onboard memory, for $100 more you get 16gb, $250 more you get 32gb, etc. Don't buy the most expensive one, memory is a commodity and will come down in price as time goes by. Buy how much memory you need now, a year down the line, buy more if you feel the need. The memory will be half the cost then.
Otherwise, if you like to shoot lots of video, just keep in mind that you will need to drag a laptop along to download your video to when you fill it up, unless you have the income to be able to afford a few hundred dollars worth of memory cards.