Bridging the gap between compact digital cameras and camcorders is the newly announced Canon PowerShot TX1. This 7.1-megapixel digital camera has a vertical design and folding LCD screen that harkens from camcorders. Its video technology goes even a step further by recording high definition movies. The TX1 has optical image stabilization on its 10x lens, along with face detection and red-eye correction technology. The hybrid PowerShot TX1 is the first of its kind for Canon; it was announced February 21 and will be available in March for $499.