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Recordable DVD versus Digital Formats?

We are considering purchasing a camcorder for Christmas but not sure what the advantages are of a DVD-R format verus the digital formats out now? We know for sure we don't want tapes (do they even make those anymore) but we are thinking the DVD-R might be nice for storage and also making copies to give to family members.

If you'd had experience with either (or both) formats, which would you recommend and why?

Thanks for considering my question!

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