Hello. Can someone recommend which brand/models might best fit my requirements?

I've never owned a camcorder before and I'm simply overwhelmed with information from reading online reviews. Also, I really don't know enough about the technology and features to make a good decision, so it would be really great if I could get a few quick recommendations from experienced users.

REQUIREMENTS:
I can afford up to about $1200 or so. I need at least 2 hours of straight recording time and intend to record video of martial arts in a garage and need a unit with excellent slow-motion playback. And also be able to save the slow motion clips into the final video.

The only editing requirements I envision are simply being able to arrange my clips in a specifc order. I'd like my video clips to play on common DVD players, PC's, or upload .mpeg clips to YouTube. I'd like to record straight to .mpeg files and then copy them straight to a PC, if that is possible, of course.

A good microphone would be nice as well. I don't need High Definition, but I do want a good quality unit. I don't care much for taking still shots with it. I'm mostly concerned with decent quality video and with good slow motion.

Any ideas what might be best for me?

Thanks very much for your time. I really appreciate it.

Mike