I use a sony pd-170 with a sennheiser wireless mic. I have probably over $5,000 into it. Its awesome! I havent got to much into the editing part yet. I plan on getting a system soon and I would love to get a HD camera. Believe it or not the gorilla tree arm for 35 bucks works pretty nice. Not bad for a starter arm. I am sure you will have a blast filming. I know my wife and I do.
Rob maybe be sometime we can film together you dont live to far from me.