In short... NO

Why not you say? It takes great photographs. It has a CMOS sensor just like some of the HD camcorders?

Well because it is a still camera and it excels at doing just that. Taking photographs. Now if you are a shutterbug and take mostly stills and would like to only do video once in a while then SURE go ahead and buy one. But if you goal is to shoot a lot of video then buy a camcorder.