As far as performance goes, the HDR-CX550V did a decent job, but there was no area where it really stood out from the flagship models from other manufacturers (although it did do very well in our stabilization test).They did find it had one of the widest angles of view for any consumer camcorder, equating to approx. a 30mm lens on a 35mm camera.
[In the interests of full disclosure, I have a Sony HDR-XR500V (now discontinued), and have been very happy with it. I generally use it as a B-camera when shooting with multi-cameras, and have found it quick and easy to use...and just for quickly grabbing footage for documenting something, it does a great job; the stabilization seems pretty good on it too, so I'm curious to see how the CX550V performs.]
[UPDATE 5/10] Note that Camcorderinfo describes the CX550V as Sony's flagship consumer model, a statement that's a little confused by the fact that Sony sells the Sony HDR-XR550V, which is essentially the same camera with a 240GB hard drive and a $150 price increase.
It's all moot though, since Sony considers the $3,500, 3-chip HDR-AX2000 a consumer camera, so it must be their flagship consumer model!
B& H: Sony HDR-CX550V ($1,199)
Amazon: Sony HDR-CX550V ($1,199)