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Strengths: Shoots in 1080p, 720p, 24p & more. Slow motion in HD (720p). Too many to list. With $10,000 more, lights & the cost of renting 35mm lenses you can make a film good enough for theatrical release. (imo)
Weaknesses: Must also consider the extra $1500.- minimum to be able to unleash the camera into HD territory. Then again using memory cards or hard-drives is more of a strenght than a weakness.
Summary: This camera is worth a closer look and a review like this one would take a lot of planning to make the camera justice. You can go to any of the many forums that discuss equipment and find praise after praise after praise for this little baby. One of them, and probably the one that discusses this camera most extensively, is www.dvxuser.com and look for clips too, that way you can really see the quality of this baby. There are many more forums, just google something like: forums HVX-200. Here is an good fact, more than 2000 cameras were sold months before it even came out. Several hundred were sold before they even finished it and made public the technical capabilities of it! People consider it a revolutionizing product because it brings HD in a quality many untrained people wouldn't know was any different from $100k cameras when used with all the extra equipment available to it.
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