You're probably going to need to do some basic editing before dumping the results to DVD or VHS; so in a way it doesn't matter which recording format you go for.
What's more important is the quality of the picture and sound as you record and how long the batteries last. Once you've missed the moment you can't get it back.
The essentials when choosing a camera are:
- Good low light performance
- A lens capable of a decent wide angle shot
- A good clear viewfinder or monitor screen
- Manual focus control
- Either a very good directional built-in mic, or a mic socket & hot shoe for adding something better
- Hi-capacity batteries
Stuff they'll try to sell you but you really don't need:
- 200x digital zoom
- Digital effects
- digital photo camera functions (they only work well on the best digital camcorders)
- high speed shutter
Usefull accessories:
- a lightweight tripod with a quick release plate (check the camera has a tripod thread, of course
)
- A skylight filter and a circular polariser filter
- more batteries
- a better cary bag
New digital camcorders are incredibly cheap for what they are, but there's also a good selection of s/h stuff available too.
Regards