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Before I start. I don't really know a great deal about the technical side of this camera. If you need to know the specs, you can get that from the manufacturers website or on Play.com. That is where I bought mine from. I paid about £120 for mine but it is now down to £99.99.
I can tell you that this thing is so much fun to use. It will fit easily in your pocket so you will take it to places with you that you wouldn't take a bigger camcorder. It's bit bigger than a mobile phone.
It's really easy to use. It's just a case of point and shoot. Which is great for me ;0). It's pretty fool proof. And once you have shot your video you can flick out the USB stick on the side and transfer the data straight onto your PC. It comes with a small amount of built in memory. But I added an 8G SD card in the provided slot. But you could add a bigger card if you need it.
It takes 2 AA batteries and they will last for about 2 hours if you are videoing in HD. The HD quality is great outdoors but indoors not so good. I think the lense just isn't big enough to cope with low light conditions. But, like I say, outdoors the quality it great! There are some other picture quality settings that you can use. But I just leave it on HD:60 720p at 60fps. You can also take 3 MP still photo's. I have not taken many of these as I just use my digital camera. So can't really comment on the quality of the stills.
The sound quality doesn't seem all that great. I think it only picks up sound in mono. But for fun videos to watch back on your PC it gets the jobs done.
Oh, and another handy feature is that you can upload your videos directly to You Tube with no problems.