The Panasonic MX500 will be great for all the things you wish for except the last one.
The panasonic has excellent outdoor image quality (it's a 3 CCD chip cam) and has (of course) a firewire connection. Also this cam can take 3 mpix still images (interpolated, but still it makes very good photo's with great colors and good contrast) This cam also has OPTICAL image stablisation. (great if you use the zoom a lot)
Last but not least, it's not a bulky cam like the XM1, the XL1(s) and the VX2000
However as I already mentioned in line one: This cam is VERY bad when used in low light situations. You will need at least a 200 watt lamp nearby for descent video. (see my other post in the "Panasonic MX500" topic)
Yes, of course it will be viewable, but you don't want to buy a $2000 cam just for "viewable" content
A cheap alternative would be the GR-DV4000 from JVC (release 15 april). with better low light performance compared to the MX500, but if you really want the optical image stabalisation and the 3CCD version (which will give you slightly better image quality in outside locations) you will have to look at those bulky expensive Sony's and Canon's
Rule of thumb: You get what you pay for and you don't get what you don't pay for. There will be no cheap "magic cam" with none of the drawbacks mentioned here
Good luck!