It's a standard definition camera. For SD, it's a great camera (PAL version of the Canon GL1). Enjoy it, love it, but it will NOT be HD. I had a GL1 (NTSC version) and loved it for years.
Im still using an XL1S which is near enough the same camera. For me its biggest limitation is not that it's lacking HD, but that its lacking 16:9. I think this year I'll have to finally trade up.