The silver is all you need. That and some extra batts and the biggest memory chip you can afford. It's best to roll them all day, you catch a lot more interesting footage. The battery back packs are ok; can do just as well with changing the batteries multiple times. I've ran the battery back packs and it reduces how many times you have to change batts.
Set it on 720p for the longest battery life and capture the most on the card. Anything above 720p is still overkill since HD on the majority of computer screens is still 720p. Yes there is better resolution in 1080 but the increase takes up a lot more card space. So unless it's a professional product in mind the 720 is plenty sharp. I have shot just about everything in 720p.
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