You should check out the S5, unless you're heavy into video cameras. The S5 has VGA resolution video, which rivals MiniDV in terms of quality. Stereo sound recording and a 12x optical image stabilized lens which you can use while doing video.
Clip length is limited to about 40 minutes each I think at the highest quality. I have a 16GB SD card in mine that I got for $50. Holds about 3+ hours of video and/or a few thousand 8MP pics.
Not sure what the video capabilities are of the G3. I've had so many Canon cameras in the 6 years since my daughter was born (also November - the 1st) that I'm surprised I never had a G3. I remember the 10 second video clips I could take with my A40. I took thousands of pics and hundreds of videos.
The video from the S5 looks like broadcast TV (standard def of course).