I have been using this camera for about 2 yrs. I did a lot of research before buying and I am sure that I am not much mistaken in my choice.
Pros
Excellent color reproduction especially in out door settings
Easy to use menu
small size
I did not have any problem with noise from tape as some one reviewed
Still pictures are also really good for a 1.2 Mp camera-color reproducion really good, can take still pictures while shooting a video without going back to menu-just click the Still picture button.

Cones
Manual that comes along with is "CRAPPY". It is as if the manufacturers mean this camera for Still images only. it does not even mention where exactly to connect the fire wire cable. i had to find it out from some reviews!!
The product did not come with a fire wire cable; Find a good one elsewhere. I called Panasonic customer support regarding this and they too had only one suggestion-buy it elsewhere!!
It takes a long while for me (about 1hr plus) to transfer one MiniDV cassette of video to computer and to form file on the Windows Movie maker I used. My computer has about 756 MB RAM. I did not try another software.
Software that came with camcorder is redundant.
Performance in low light is not good
No built-in light source; find a suitable one and attach separate
optical zoom is only 10X, and no need to mention anything about digital zoom
Battery does not last for long-may be for 30-40 mts with the digital viewer turned on; have apare battery if you are serious about shooting for a longer period.

Because of the negative points, I am looking for a better model with 3CCD technology

I've waited two years to write my review so that I'd be removed from the excitement that comes with buying a new camera. The strongpoints of this camcorder are its size, color reproduction, remote control, and adjustable light/color settings. It's drawbacks are: poor performance in low/med-low light conditions. The colors tend to go blue in mid to low light situations, and that can be annnoying for those trying to make short films with different locations/lighting. I think that this camera would be a great buy for someone looking to do a lot of serious filming in outdoor areas. If you just want something to make home movies of your kids or something, then I'd go for a cheaper model Panasonic or a Sony. I think that I'm going to buy a Sony next time because I like their low-light features.

I am team manager for a small midwest skate team and we were in need for a video camera. I was also looking for something that had a clear enough video i could do some short movies with it as well.

I have had the camera for almost 1 year now and it has taken some nasty hits from skaters and drops from 4 foot to pure concrete and took the beating like a champ.

I spent almost double what it is going for now and it was worth it back then so if you can get it now for around 450 it's a must buy camcorder.

I've been video taping weddings for 25 years and the PV-GS120 was the 11th and 12th camera I've bought (Yea, I bought two)
I was impressed with both the price and quality of the 3CCD's
I also appreciated the 1.5 hour (LP mode) taping time available which I needed for taping wedding ceremonies without having to change media during the ceremony.

I needed the mic and headphone input that were missing from some other manufacturers products and I remembered the quality I had always experienced from the Panasonic cameras I'd used before I moved to 8mm.

I've done 7 weddings with the PV-GS120 and my customers and I are very satified with the quality images and audio this camera captures and recreates.

On the downside I missed the option of adding a wired remote zoom control and the steadycam feature wasn't quite what Sony had.
The low light feature isn't as good as the single chip cameras but 3CCD's always require more light.

I've been recommending this camera to anyone who is thinking about upgrading from 8mm or VHS. Forget about the DVD media cameras and go with tape, you can make (and scratch) all the DVD's you want after downloading and editing your work from your computer.

I've had this camera for about 4-months now and have taken well over 150-hours worth of video from various sporting events and a few family events.

The first thing that hits you once you download the video capture is the color saturation...unbelievable! 3-CCD's makes a huge difference! Like night and day, compared to other camcorders in the same price range.

I looked at many camcorders before choosing the PV-GS120. My first thought was I needed a camcorder with atleast a 20x Optical Zoom. However, all the camcorders I saw didn't have the picture quality I was looking for.

When I saw the PV-GS120, I wasn't really receptive to the fact it was only 10x optical zoom. However when I started shooting with it the store, how good the picture was. Don't take my word for it, seeing is believing!

I chose the Panasonic and have been very pleased with it.

Don't get caught up in the Optical Zoom hype...who cares if the optical zoom is 16x, 18x, 20x, if the picture is horrible.