"DVD quality" video = :-laf
Here are my random thoughts:
The well established "DV" codec = 3. 6 megabytes per second or roughly 13 gigabytes per hour. This data rate is also roughly the same as many professional/broadcast applications that are 25-megabit/second or DV-25.
mini-DV tapes hold one hour of video at the DV codec bitrate (3. 6MB/sec)
Single layer DVD's = 4. 7 gigabytes
So, if your camcorder records onto mini-DV tapes with the constant bitrate DV codec, the quality of the raw video that goes to tape is much higher than the variable (and LOWER... ) bitrate video recorded with camcorders that use DVD media.
If you don't plan on editing and can look past the fact that the video is being compressed more than it has to before it ends up on the DVD inside the camera - have at it. To maintain the same bitrate as a mini-DV tape, a camcorder would have to record on dual-layer DVDs (9. 4GB) and you're still far from the 13GB/hour needed by the DV codec.
I have a 3-CCD Panasonic camcorder that records on mini-DV tapes. The quality is phenomenal for what I paid for the rig. When I want to - I can transcode the video (to REDUCE the bitrate/quality) from tape to a MPEG-2 DVD compatible format.
The DVD format has pretty good video quality, but it doesn't set the bar very high. So the next time you watch a DVD-movie, just think about how much compression those
2 hours of video had to go through to fit onto a 9. 4GB dual-layer DVD.
Matt