Looks great, professional styling, nice to hold and feels much better than average build quality for this level of camera. Easy to use. Optical stabilisation is weak, but perhaps you shouldn't expect it to do too much when zooming in. Good range of easily accessed manual controls. Down side is that none of the accessories are available in the UK at present - eg: external mic, carrying case, lense adaptors etc. Also, the TOD file system is a bit of a pain by not allowing file transfer in full HD mode direct into Final Cut Express or iMovie 08 on a Mac - but there are workarounds and image quality is still impressive - but I'm judging it simply as a user rather than an enthusiast..... For me it certainly does what I want and notwithstanding naff reviews in the specialist magazines I would still recommend it. Prices do vary tremendously though, so shop around!
IMPORTANT UPDATE: When Apple updated Quicktime to v7.4 this camera overnight ceased to be compatible with Apple Macs and the JVC support desk show no interest in the plight of existing users who can no longer use their camera.