I had tried out both the HV10 and the Sony HDR-HC3 and was pretty impressed with both. As everyone has noted, the PQ from the HV10 in bright daylight is spectacular. Ultimately, a few things concerned me -
* History of issues with Canon tape transports - though I've heard of this primarily among GL2s. Interestingly, Consumer Reports suggests that the frequency of serious issues is about 3x as great as with Sony camcorders. Anyone heard anything about whether the earlier issues have been fixed?
* Lowlight performance - My opinion of the Canon's performance in indoor lighting (60w bulb during the evening) is a bit lower than some of the other folks that have posted. In fact, the noise I noticed was pretty noticeable, moreso than on the HDR-HC3. That said, the HV-10 remained fairly sharp, while the HDR-HC3 became much softer in lower light. All in all, I probably prefer the HV10 if you don't have better lighting - though you'd certainly be better off with a video light. In this regard, the inability to connect a legitimate video light (and, sorry, the light on the HV10 doesn't meet this criterion) is pretty unfortunate. Because I take a fair amount of video of our baby in lowish light, I'd much prefer to have a hot shoe to add on a video light.
* Inability to add on a mic - The mic on the HV10 is adequate generally. If you do any talking while filming, the placement of the mic pretty much ensures that your voice will dominate the audio entirely. For this reason, among others, I really wish there was some way to add on an external mic.
For the time being, I'm going to wait to see if the Sony HDR-HC7 stacks up better vs. the HV10 on the video side of things. It's got a modestly bigger CMOS sensor and a new color system, so I'm hopeful that it might close some ground on the HV10 in the PQ department. Along with the hot shoe and mic input, it seems to have the potential to address my main concerns. Hopefully, we'll see some reviews coming out pretty soon.