Engadget is reporting

“JVC is bringing more of that 3-CCD goodness this morning by coming clean with the specs of their high-def, GZ-HD3 camcorder. The latest HD Everio trims some 27% of the bulk from their GZ-HD7 while offering much of the same features albeit, at a lower resolution. We’re talking up to 5-hours of 1,440 x 1,080 / 30Mbps recordings direct to internal 60GB hard disk. You can also record up to 5-hours in a 1440CBR mode for easy editing with your HDV-compatible software. Otherwise, you’re stuck with the bundled CyberLink BD software. Rounding out the features are a Konica Minolta HD lens, digital image stabilization, JVC’s HD Gigabrid image processing, 2.8-inch LCD, HDMI-out, built-in light, PC-less archiving over USB to Everio Share Stations, and support for SDHC (Class 6) recordings in SP mode (1,440 x 1,080 at 22Mbps). Expected to hit US shores for $1,300 sometime in September. “

  What it will bring back to the end user. Will anyone can make a Feature film release it on their own in a theatre or these cameras going to the change the way the video are in Web ( Will Youtube change the  format of Video and have pay per view subscription for handheld HD camera movie’s).

Pour on your thoughts and feedbacks.