A few preview/reviews:
Alistair Chapman's First Impressions
It's strange they use the MP4 file wrapper for the XDCAM HD codec which is based on MPEG-2 Long GOP compression. More interesting is that it shoots 1080/50/60i, 1080/24,25,30P, 720/60/50/30/25/24P. So it's basically NTSC and PAL compatible like the HVR-Z1.
Looks like Sony is upping the ante and with the new interchangeable lens HDV 3x 1/3" camera, they are pushing to fight the RED One's impending dominance in the under $50k camera market.
Interesting times ahead. Although it will be anyone shooting this camera will have to bring along a RAID disk array for backup.