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Should I upgrade Canon ZR50MC to ?

I have been reading camcorder reviews all day and I'm just as lost as when I began. I have a Canon ZR50MC miniDV camcorder. I use Windows XP and have a standard DVD player/standard DVD burner and large HDTV with no plans to get blu-ray. I record basic family vacations, kids concerts etc.

I want an easy to use, decent video quality camcorder that is compact. I also want it to be simple to burn a DVD of the footage. Currently I use firewire to transfer to PC then use Movie Maker to edit a little then Power Producer to make a DVD. This is VERY time consuming and tedious. I hate it. I had considered a DVD camcorder but read bad opinions on them. So I was almost ready to buy the Canon HG10 but realized I have no idea about formats and coding or whatever that means. Also my final DVD wouldn't be High Def so why this camcorder? Or should I just get some new software? And which one? I'm just very confused and wondering if there is any advantage of getting a new one. I'd like to spend as little as possible and will go up to $700. Any help or suggestions are very appreciated. thanks

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