Thanks for your input everyone.
Perhaps if I give a bit more background to the class... This year has been a dry run for the course. I've only had two students. We were given no budget and no curriculum. Students had to supply whatever gear we used (cameras, computers, editing, etc.). As a result, we've shot everything with a Canon T3i and it's kit lens. For curriculum, I've tried to used video tutorials from lynda.com. We've only done two large projects so far. One was a substantial highlight film for our state champion girls volleyball team. The second was a promotional video/commercial for a parent with a startup company. He "paid" us $5000 with the understanding we'd use it to get gear for the class to continue. And that's where we are.
During this trial run, teaching has been difficult. We as a class are being asked by the school administrators to produce professional level productions; I'd like to teach them how to shoot great video, record great audio, light interviews properly, tell great stories, etc; the class is limited to the gear one student owns and shares. There's so many moving parts and pieces.
I think HD quality is a must; also a versatile lens and DoF for a variety of shots (sports to interviews). I have a feeling the class will soon morph into an in-house production studio for official projects and event videography.
Based on that info, does it change your recommendations? Thanks again.