These are the 2 issues I have found with the Flip UltraHD so far: Fuzzy indoors and in low light conditions. Also, the raw files need converting or else they will not work with Windows Movie Maker.
actually, i have the flip ultra hd camcorder too but i dont need to convert anything for windows movie maker, since i have the vista version, which can edit hd video. doesnt matter if u have vista or not actually since i found this really awsome youtube vid that shows u VERY easily how to get the wmm vista hd. so with that, all u need to do is export the video from flipshare to ur pc, then drag it over to wmm vista hd, and edit like nothings wrong. thats how ive made my vids.