If you're fine with buying memory sticks, the CX7. If you're fine with storing your video on a hard drive, the SR7. Both are basically the same camcorders except they use different media. Have you ruled out tape camcorders already?
MAKE SURE TO BACK UP YOUR FOOTAGE NO MATTER WHICH YOU GET.
I am really confused which one to purchase. I don't care whether it is a Pro-duo memory stick or HDD (to me, this is the major difference between these two). The things I am looking at are...
1. High-quality video
2. Easily portable from Camcorder to my Sony Lapto
3. When I say High-quality video, I mean there should be no drop of video quality even after a few hours
If someone can suggest me which is better than the other one and why, I would be really appreciative.