In general, I would avoid anything that doesn't record to flash memory, either internal or a card. Hard drives are an OK second option. DVD and tape are on their way out, and have serious disadvantages to the other two methods.
AVCHD is the new standard for high def recorders. Here are a few things to keep in mind. If you want it to "just work" you need Windows 7. If you aren't interested in storing the video and viewing it on the computer, ignore that. (Vista, XP, and Macs work too, but with slight gotchas) You need serious horsepower to edit the video. Dual core is the minimum, and quad core is highly recommended. The files are huge. 2 hours is 16 GB more or less. Your 4 year old laptop with 2 GB of memory probably won't even be able to play the files. You really need power to edit the videos.
Flip cameras and other cheaper cameras may claim to do HD, but it is an imperfect picture. You get what you pay for. Good HD isn't cheap. Usually around $500 starting.
The Canon Vixia line is highly rated. I own the Canon HF20 and love it. Sony also puts out several camera that are very close. Keep in mind that HD cameras can always save in SD now, or output to an SD TV. There is no harm in recording to HD now so you will be ready for it later if you only have SD TV's today.