After being amazed in another thread by a video taken by a panasonic lumix camera, i went out and bought the camera! the camera i bought is a panasonic lumix dmc-zs7. it records video in 720p "hi def" mode and it records stereo audio with surprisingly good quality.
here's a hi def video i recorded of a friend's band:
the lighting conditions were very dark. this place had no stage lights, but you can get the idea. when you watch it, make sure you select "720p" from the resolution menu at the lower right.