Our video camera is from the stone age and our digital camera isn't working as well as it should anymore, dropping it on concrete and piecing it back together (twice

) hasn't helped.
Last time I looked into it, the quality of the stills on a video unit was at best pretty poor. Has technology progressed to a point where you can find a resonably priced unit (under $500-$600) that takes quality photos and can hold an hour or two of video.
I'd want at least 3x optical zoom (preferably 5x) for both photo and video, picture stableizer (no shaking in the video, and 2.5 megapixel minimum photo capability.
Also, can you fire off a still photo while you're taking video or do you have to stop and change settings?
At kids functions, I'm in charge of photos and video. No choice of mine, my wife is one step below lousy at it, even worse at it then she is at cooking (and she'll admit it). I'd love to have a way of doing both vid and photo at the same time.
Am I asking too much now ??