I have the bigger brother HMC151 (HMC150 in the US) and cannot rave about it enough for this sort of thing. Also Panasonic has the best warranty package by far. (Five years free return to base, repair, replace if necessary!)
Don't forget that the AG HMC 40 uses CMOS sensors, while the AG HMC151 uses CCDs.
The HMC40 will use a CMOS Rolling Shutter, which can cause problems in situations where high speed vibrations -or high speed pans - are likely to be used.
Like snowboarding and skateboarding, for example!
May not be a problem, but something to be considered when looking for a decent camera, for a specific task.