There are a few camcorders that meet your first two requirements, but unfortunately, none perform well in low-light (heck, some don't even perform well in daylight). Flash storage is relatively new and suffers the same compression issues as miniDVD since both currently use the around same amount of storage (1-2GB). Once flash catches up in storage capacity to Hard Disk Drive(HDD), that opens more options for less compression hence better video.
In short, flash memory might not be your best bet here. MiniDV or HDD camcorders will give you the best price/quality ratio.
P.S. Have you read the Camcorders Forum Sticky at the top of the forum yet?
I have only two requirements: ok maybe three.
1. HDTV quality
2. Flash based storage like SD cards.
3. Good quality in night, day, low-light conditions.
I was thinking of buying the: Sony HDR-HC7
as it meets my above requirements best except the part about storing it directly on flash based media device. Do you guys have any other suggestions?