It was intended as a high-end consumer camera, more portable and less expensive than the top-of-the-line DCR-VX1000.
The camcorder included a FireWire port for transferring video to a computer.
At the time, Sony had a pattern of releasing "professional" upgraded versions of their most popular consumer cameras, with the same chassis shape but made from more durable materials and in a darker color.
Extra features included XLR inputs and the ability to record in the higher-grade DVCAM format.
Running the "flash" digital effect at the lowest possible setting will simulate a progressive mode.