I have one, and truthfully, i dont recommend it. It only shoots 720p quality, no optical zoom, and it records in an MP4 file format, which means, with most programs, either you'll have to take a couple hours to convert the files to a workable file, such as a WMV file, or, you'll edit a video which is sped up just enough to annoy the piss out of you, or it just wont work at all. You can't do focus blur, shallow focus, or anything like that with it. If you want a good camera, in the same price range, I recommend the Canon Powershot series, like these:
http://www.amazon.com/Canon-PowerSh...=sr_1_1?ie=UTF8&s=photo&qid=1274947575&sr=1-1
http://www.amazon.com/dp/B002LITT3S/?tag=zky007-20
These are two good cameras i've played with, and I like them better than the Flip. Hope I helped out!
When it comes to shooting magic/flourishing videos, I would probably say that the Flip is the worst camera to choose. With the Flip software that is installed with the camera, you cannot split cut certain scenes from a single take, you cant add effects during production of the video, and you can't edit the cuts together on a timeline or something. Basically, with the Flip, all you can do is shoot and upload it, thats it, unless you enjoy spending 2 or more hours extra making the video. I suggest looking around for something different, and keep the Flip as a last resort purchase.