What is the best camcorder for shooting a senior video?

Just like the question says I am looking for a good quality camcorder to shoot my class' senior video next year at my high school. Should i go with high definition or will it be a waste of money since i doubt most people that will view it will have an hd tv?. I have a macbook pro with final cut express to edit... show more Just like the question says I am looking for a good quality camcorder to shoot my class' senior video next year at my high school. Should i go with high definition or will it be a waste of money since i doubt most people that will view it will have an hd tv?. I have a macbook pro with final cut express to edit it so it should be compatible with that. Also, would a dvd or hard drive camcorder be better?.I only want to spend around 700 dollars at the most. Any help is appreciated, thanks
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