You should only need a usb cable: The camcorder will be seen by Windows Xp ( and above) as a USB "mass storage" device in much the same way as happens when you put a usb flsh drive in a PCs USB slots
Once it appears as a "drive" in my computer it should be possible to simply drag and drop its contents to your PCs HDD
Its contents are AVCHD (H.264) video files, unless you shot in SD in which case they are mpeg2 files.
As for what happens to it after,( avchd files)
You can play it.
If you want to Edit it , you would need to Have a Copy of Sony Vegas 7 with its recent update ( May 1st).. UleadMovieFactory6 plus, or a trialversion of UleadVideoStudio11 plus
Pinnacle Studio 11 plus ( ultimate)
or wait for Sony Vegas Movie Studio ver 8 in a few months
Have a read
Vegas 7e AVCHD update is available