The Canon HG10 has been replaced by an enormous number of Canon HD camcorders, take a look at the hf series for their newest stuff. In any case, here's what we wrote about the HG10 when it first hit the shelves:
Double HD, that is "High-Definition" and "Hard Disk." The Canon HG10 records full 1080 high-definition videos to a 40GB hard disk, eliminating tapes, DVDs, and other media. This allows the HG10 to be small and portable, so it won't be a pain to carry around when shooting. The HG10 offers the absolute pinnacle of video-quality, in an easy-to-understand package.