I already had a Slik Pro400-DX video tripod which is sturdy and has a very smooth action, but it's also rather heavy and I wanted something light and easy to carry. I'm using a Canon HF-S100 camcorder.
The Velbon CX-480 fits the bill quite well, although it is nowhere near as rigid as the Slik and the fluid head isn't as smooth. However, unless it's windy it is quite adequate and much better than trying to hand-hold or perch the camcorder on a post.
As long as you accept that this is an inexpensive, lightweight tripod with inherent limitations, you shouldn't be disappointed.