I got the PAL version of the Sony DVD403 a few weeks ago. It has got the stunningly good performance with ease and convenience.

Briefly the Pros & Cons:

PRO's:
1. Convenience in playing back the recorded miniDVD in computer or set-top DVD players immediately after finalization.

2. 3M-pixel CCD Resolution (3.05M still and 2M video effective pixels)
(1/3 inch size CCD means better video quality)

3. Very good low light performance

4. No need of rewinding, forwarding for blank space search or accidental erases as it could happen with miniDV.

5. No possibility of accidentally video getting overwritten as with miniDV (in case of overlook)

6. 16:9 recording (Wide)

7. 5.1 Channel Dolby digital surround sound recording and in-built 5.1 ch enabled mic.

8. Excellent still quality equal to digital camera of 3M

9. Can edit MPEG2 after downloading clips from miniDVD and finally record into bigger DVD.

10. Provided software does the conversion of audio from 5.1 ch to stereo for compatibility with many softwares. Till 5.1 ch enabled encoding softwares are available, the miniDVD could be copied directly to 12cm DVD without loosing such audio performance for home theatres.

11. Did not get wind noise when recorded with Mic ref level as LOW in breezy atmosphere.

12. Other important feature.. This camcorder doubles-up as DVD recorder as interesting TV programs can be recorded into miniDVD by connecting the cam to output jacks of the TV. Quality is maintained even if recorded in long-play mode (1 Hr with one 1.4 GB -RW).

Cons:
1. DVD (MPEG2) format is not recommended over DV for extensive editing. However, footage could be downloaded from this camcorder/miniDVD into MPEG2 edit supporting softwares and further can be edited and authored to full size DVD.

2. May need to change miniDVD's (30min SP) for recording more often than a miniDV tapes (1 Hr. SP). But, this is not an issue for most of us as we may take a logical break (Standby during unimportant scene) well with-in less than 30 min to change the mini DVD.