I'd certainly get an HD one in the hope that it won't look quite so dated when you watch a recording in ten years or so.
I think I borrowed a Canon FS200 from the AV dept at my work when I was thinking of buying a camcorder and the picture quality was rubbish. It might have been a Canon FS-something-else though.
I got a full HD Sanyo VPC-FH1something (which has been grand) in the end but only because I could get a good deal on it at the time.
Narrow your selection down to a few of similar spec. Some website or other will do a cracking deal on one of them sooner or later.
HTH.
PS – might be worth checking if Camerabox have any bundle deals on. That's who I ended up buying mine from.
PPS – you'll need a good computer if you want to do any editing. My Sanyo chucks out 1080@60fps and some computers won't even play it, never mind edit it. Big files as well obviously.