eskimo,
Bug's D50 looks pretty sweet. Might want to see if you can fit that into your budget. Get the kit with lense now, and buy a better lense when you can afford it.
As for camcorders, I'd wait. There are already a couple HD camcorders on the market but they cost over $1500. That should drop in the next year or so, and they should just keep getting better and better.
RAW formats are proprietary formats that have zero compression and extra information in the image format, such as camera settings. Each manufacturer deliberately makes their formats incompatible from the others so you are forced to use their software or software made by companies that pay royalty fees so they can use the format.
For example, Nikon cameras come with image editing software that works with their RAW image formats, but the software is somewhat limited and not super easy to use. Of course, Nikon will happily sell you their improved image editing software for more money. Or you can buy something like adobe photoshop for hundreds of dollars, because adobe pays nikon a fee for the rights to use nikon's RAW format. Adobe pays pretty much every camera manufacturer a fee so photoshop can work with almost any image type taken from any camera. That's one reason why photoshop costs so much.
Yea, it's a conspiracy but from what I've seen, professional photographers are too defensive and proud of the gear they use, so they'll never band together and force the camera companies to come up with a single standard RAW format. The companies make more money that way and if the customers don't make it worth it to set a standard, they'll keep gouging the customers with the proprietary formats. Of course, they market their own incompatible (and copyrighted/patented) standards as "features", but it's really just a way to get more money out of us.
Heck, it seems like the pro photographers WANT to get gouged, because it makes them feel like they're getting the best. All the non-pros use the standard software that comes with the camera, but a REAL PRO spends the money for the premium software. Seems stupid to me, but then my life doesn't depend on me selling photos on the basis that they're better than everyone elses so I don't have to try to convince anyone that I'm some 1337 camera-dude by spending money for no reason other than the camera manufacturer tweaked the RAW format again and my older perfectly good software, doesn't work anymore.