[Dixielandjazz] Movie Cameras for U tube

[Larry Walton Entertainment - St. Louis]

I'm getting ready to buy a movie camera and don't want to spend over $500 if I can keep from it.  I would prefer one that had an SD chip if possible and be compatible with my new HD TV.  I primarily want it to do videos for U tube.  There are a variety of formats from square to the newer wide screen and different pixel ratings.  A couple will do multi formats but are over $1k.  Some have 5.1 sound capabilities but I don't see how they manage that with such a small camera.  I would like as good a sound as possible though.

I do have a still camera that will take video MP4's and do sound but I thought I might like something a little better.  My grandson puts things on U tube all the time with it.

I have the Adobe Premier elements 4 and Nero 8 but I really haven't used them yet.  I suppose there are editing features that I could use to modify clips to fit U tube OK.

What does everyone use?  Am I just imagining a problem or is U tube pretty flexible so far as formatting goes?
Larry
St, Louis