If you were looking for a HD flash format camera at a reasonable price, then I would recommend the Kodak Zi8. This camera retails for about $179, and has the option of having an external microphone for better sound. In addition to audio control, you have the power to have a SD card to capture your video, so you don’t have to worry about space for video shooting and pictures. If you have an extended trip or long project, just purchase multiple cards and shoot away.
The rig consist of a Sony ECM-DS70P microphone ($49.00), smartlens 2 in 1 ($16.99), Stratos Digital Folding Bracket ($16.99) or a basic Right Angle Bracket ($12.99), the Litepanels LPMICRO Micro LED on Camera Light ($250.00) or the CameraBright X1-W (29.00), Goody Ouchless Hair Bands ($4.29), the StudioTools Compact Mirror ($3.49), a iphone skin of your choice ($15.00), the handle I do not have a price because in came in a Rhode microphone kit from B&H I purchased a few years ago, and of course the Kodak Zi ($179.00). I purchased the microphone, brackets, handle, and lighting at B&H, the camera, hair band, and mirror, was purchased at Target, the MJ skin is from eBay, and the smartlens was on a site based in Hong Kong. (This is a link to the blog that I stumbled on that has a write up on the lens with some youTube post about the it. - http://guidewired.wordpress.com/2009/11/06/kodak-zi8-mod-wide-angle-lens-w-macro-attachment/#comment-25)
I personally paid about $600 for this rig, but keep in mind I purchase the light last year for my Canon HV30. If you remove the Litepanel and purchase the CameraBright instead, this brings this rig down to about $350.00 (not including memory or tax.) If you are serious about creating quality video and if it’s in your budget I would make the investment in purchasing all these items for this and future cameras. If money were an issue I would just get the camera and build up slowly (this camera out the box is really good, so there is no need to rush out and put yourself in a financial bind.) I would start with the microphone, lens, and then the bracket/light.
Other accessories I would recommend are the large Crumpler THE BUNDLE Photo Bag. This bag is large enough for the camera, folding bracket with the mirror attached, the CameraBright light, microphone, handle, and extra memory and battery. This bag could also work with small camcorder like the Canon HV30. I like how it’s designed slim and compact. I would also recommend extra batteries and memory. I will have a part 2 to using this rig, so please look out for that. If you have any more questions please feel free to contact me through this comment box, or youTube.