Spec-wise, you get a 10.6 megapixel 3MOS sensor, 12x optical zoom, an improved image stabilizer, SDHC support (up to 32GB), an HDMI port, a USB port, VIERA link and a 2.7-inch LCD. You can even store up to 100 hours of video if you shoot it with 1440×1080 at 6Mbps.
Panasonic plans to start selling the HS350 in Japan on July 25. Available only in one color (metallic grey), the camcorder will cost $1,600. No word on sales outside Japan yet, unfortunately.