.mov is just a container. It can contain any number of actual video formats. AVCHD is likely (limited version of H.264). Small consumer cameras are generally very compressed, and lousy quality for editing. TV viewing is so-so at best, as the intended use appears to be Youtube, Vimeo and other "video sharing" type uses.
Low light needs will generally wipe out most consumer gear, period. Consumer cameras have cheap sensors.
A
Nikon D7000 DSLR is an awesome camera, and you'd get 20-minute burst shooting abilities at 1080p AVCHD. The light can go incredibly low, especially if you use low-light (f/2.8 aperture) lenses. But the D7000 is about
$1500 in a kit from Amazon; only $100-200 less, if you get the body only.
The Nikon ME-1 stereo mic would run about
$130 from Amazon.
I think I'd rather use a higher grade mono microphone from Rode (
$150 from Amazon) or Sennheiser (
MKE 400 for $195 from Amazon)
Given that both channels are from a single location, "stereo" is a bit of a misnomer. Unless you rig microphones in two separate acoustically optimum places, it's not stereo. It's just two mono recordings side by side. (Trust me on this -- I've worked with some of the world's most selective audiophiles; professional musicians, well-known symphony directors, music labels, etc.)
