Panasonic - which was first on the market with Micro four thirds in the G1 - has this week unveiled the World's first Micro Four Thirds camcorder, the 'AG-AF100'. As the image rather gives away, the model targets professionals and it can happily shoot Full HD 1080p video at 30fps/24fps or 1080i and 720p at 60fps.
Panasonic claims the "AF100's micro 4/3-inch sensor affords depth of field and field of view similar to that of 35mm movie cameras in a less expensive camera body" and it is fully compatible with all existing Micro Four Thirds lenses as well as impending film-style lenses with fixed focal lengths and primes.
The AF100 incorporates a 4/3-inch, 16:9 MOS imager while recording is in an AVC/ H.264 Hi Profile AVCHD codec along with 48-kHz/16-bit two-channel digital audio recording that supports LPCM/Dolby-AC3. Storage can be via SD and SDXC cards (meaning up to 2TB of potential space), while yes you can indeed take HDMI output as a given.
You can also take a high price as a given with the professional sector getting the AF100 with a three year warranty for $5,999 when it launches towards the end of the year. Consumer focused alternatives? I'd say by the end of 2011, if we're lucky...