The HC-V700M is far from perfect, what with its bizarre design choices, poor battery life, clunky menu design, and occasionally questionable video/photo issues with color or white balance. But it still has a decent set of manual controls, a solid touchscreen display, and it produces generally good quality video thanks to its powerful 1MOS sensor (and shooting is comfortable due in no small part to its wide-angle lens).
That being said, there’s no way that it’s worth its launch MSRP of $599.99, which is entirely too much for a camcorder that is not only flawed, but lacks certain features entirely, like a cinematic framerate or a hot shoe. For the right price, the V700M could be worth your time, but be sure to wait for the price drop. At the time of this writing, about $50 has been shaved off the price at online retailers like B&H and Amazon, but I would suggest waiting a little longer if you have to have the V700M.