I think you're right, Johnnyb53. It just strikes me as odd that Sony would not extend themselves to be first to market with a Blu-ray camcorder. You could argue that they're letting Hitachi test the waters of the market, but there's something to be said for the bragging rights that come from debuting an industry "first" and the Sony of old would have gone after that.
I had some bloggery about this, as you can imagineAs it stands, I don't have a clear picture of which way the wind is blowing, but my sense is that the teeter totter is tipping in Blu-ray's favor overall. But who knows?