Boy this SD1 thru 7 mess is confusing. Talk about making life difficult for the user!
Anyway, I bought an SD1 a while ago and I'm really happy with it. Perfect for what I need to do with it (smaller shoots, like recording auditions, footage for work as a UI designer, etc). I'm so happy with it, I sold off my Panny HVX200 (will be using a RED for the high end stuff).
However, the workflow to get the SD1 footage into Final Cut Pro is a bear. I use a combination of Elecard's Converter and MPEG Streamclip to get the native MTS format files into Quicktime. But the footage is really quite nice, for such a small camera.
Anyway, I'm tempted by the SD3/5, but pretty happy with my current setup, so I won't upgrade until they offer 24p along with 1920×1080 format.