The above video was shot with the newly released Nikon D90. The Nikon D90 is a D-SLR camera. That shoots video. 720p HD video. And because it is still a D-SLR at heart, the ability to switch lenses (eg. telephoto, fisheye, macro) and the high performance in darker situations actually gives the D90 an edge over most camcorders. See for yourself here: D-Movie sample clips.
However, while my D70s weeps for its inferiority, the revolutionary D90 is only a scratch in the surface for the future of high performance cameras and camcorders. RED CEO Jim Jannard is already rabble-rousing about its plans in the future in this space.