I was looking to buy a camcorder before, but realized I wanted something that did more than just video. Sure some camcorders do allow you to take pictures with them, but you don't have control. Or rather, you don't have the control that a DSLR does. Like different lenses, the ability to control depth of field, shooting in RAW format, and loads of other big points. So with the ability to shoot awesome pictures, it also comes packed with 720p video features. It doesn't have some of the basic features that a normal consumer camcorder does like Continuous Auto-focus, but it wasn't made for that.
I figure, if I familiarize myself with manual focus enough, then that part won't matter. Although the D300s does have Continuous AF. But it's also over $2k.
Also.. the price listed on the Nikon website is body ONLY. You have to buy the lens, tri/monopod, etc separate.