Clay, Sony has just come out with a new model, the HVR-Z7U, that records to a standard flash memory card as well as tape. It also accepts different lenses, which may be an advantage for you depending on what you're shooting.
I had mentioned Afghanistan above - those Z1U's are with Canadian armed forces in Kandahar and they've just purchased a whack of Z7's in the hope that the flash card recording will save them getting their tape transports full of sand:).
Here in Canada the Z1 goes for around $5200 and the Z7 is about $6400, not sure about the States but that should give you an idea of the premium for the Z7.
Don't worry about the technology Clay, you're coming in at a good time - the new formats and advent of HD mean there's good value for your money and the stuff is easier to use than ever.
Hope that helps and have a good one!