A really easy to use 'point and shoot' camcorder with some nice extra features should you wish to get more involved with your filming (adjusting white balance, manual focus, iris settings etc). Light, and small enough to carry in a coat pocket. Battery life around 90 mins. Zoom is very good, assisted by good image stabilisation. The still image quality is very good too - as sharp as a reasonable camera.
On the minus side, I found the colours just weren't as vibrant as I would have liked, which compromised the HD sharpness. I also found that light surfaces lost most of their detail in moderate brightness. There's a fair review on Techradar which describes the issues I encountered. The V700 is by no means a poor camera, but by way of comparison, I returned this and bought a Panasonic X800 (bargain price on an auction site). The difference having 3 sensors on the X800 is quite marked when compared with the V700 - colours are far more vibrant, and I'm very pleased.
Don't get me wrong, having upgraded from a DV tape camcorder, the V700 was like having getting cataracts removed. But if you're in any doubt over this and the higher spec'd Panasonics, go for the latter if you can justify the premium. (Or better still see if you find last year's SD800 for a good price).