There's a little more to this pocket camcorder that that, but I feel longterm all these things will be subsumed into mobile phones. The problem is that the interface, video quality and storage will all be compromises based on it also being a phone
I have a standard definition Flip Camcorder, and I can tell you this... They are gimmicky. However, being small, running on AA's, and being very easy to get the video off them, they do serve a purpose. The microphones suck though, for voice it's fine, but don't take them to a concert.