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That's quite expensive - it may actually be more like a DSLR anyway. Have a try out and see what results you get. If it doesn't work out you could pick up a cheap second hand DSLR.

it is suppose to be pretty decent, it has 18.2 megapixels etc etc....I'll post some photos later ...see what you think :)

You should take a look at some of the used equipment on ebay. For $400 you can get a pretty decent set-up!