Looking for an HD Camcorder for under $400

I am looking to buy an HD camcorder for under $400.  I have Final Cut Studio (so in other words I am running Final Cut Pro 7) and really have no clue what camera to go with that is compatible with my program.  I have been immensely impressed with the reviews of the Canon Vixia HF R20, and figure if I also buy an external mic to accompany it, it will be great, but then I read it isn't compatible with FCP 7... I could download a converter, but then I worry about losing picture quality.... basically I'm lost in a sea of options, and the Internet is full of contradictions and different opinions!  I've always loved editing, and got FCP Studio while in university, where we were able to borrow a camera when we needed one, but now I am graduating and want a camera of my own.  I am looking to stick to my budget, as I don't need a $1000 dollar camera, just a quality camcorder that shoots nice HD video.  Please, someone who knows more than me, help me out with this! 

Good point(s). That's why I said I think I'd like to go HD. I didn't know how necessary it was, I just knew it was what was popular now. I'd mainly be using it to do home movies, maybe the occasional web clip and make regular SD DVDs. I don't even have a Blu-Ray player yet, though I plan on getting one and I don't think I'd take enough movies to have a burning desire to plug the camera into an HDTV to watch videos.

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    Digital camera RAW formats supported by OS X Snow Leopard:
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    Message was edited by: Edward A. Oates
    Message was edited by: Edward A. Oates

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