Let the hive mind of Engadget get that for you.
"I need help! I want a small pocket camcorder but I'm not sure which one to get. I don't want to fall into the hype of the Flip because I worry two hours won't be enough. What should I be looking for when considering a small camcorder and where can I get a good quality one with expandable memory? Thanks!"
MPEG2 on a single layer isn't going to look as good as VC-1 or AVC on a 30GB disc.
You can excuse Sony for not having Dual Layer discs ready but to use MPEG2 which is prone to macroblocking was just inexcusable. My recommendation for Blu-Ray purchasers is to email Sony and let them know you're not going to put up with SL MPEG2 discs.