I currently own an XL1s. The quality is fine, but I would not call it amazing compared to many HD(High Definition) Camcorders out there right now. I have only a small opinion because I only see HD video on youtube and never in real time. How does a Canon XL1s fair against a newer HD camcorder? I am talking within the $400-$500 Us dollar range. That should be less than 300 for you guys.

What my main concern is quality of film, how great will it look? will it still need color correction? or Ready to go out of box?

I love the lens of the XL1s with the large aperture and the awesome zoom, but everytime I get the video file into my editing program, Color correction, brightness, and sometimes contrast will need to be adjusted. From those who have experience with the XL1s and any newer HD camcorders, please, let me know your opinion, I would greatly appreciate it. Thank you in Advance .