Having great audio is just as important as having a great image. Spend your money on good audio equipment and you will take even moderate video quality to the next level.
(Click on the product image for more info on each item)
Sound Devices 722 Sound Recorder
The 722 is a 2-channel high-quality audio mixer/recorder that records 24-bit .wav sound files with premium onboard pre-amps. It's also built like a tank!
Sound Devices MixPre-D
The MixPre-D is a 2-Channel audio mixer with premium onboard pre-amps. We use this when we are shooting with our Canon C300's or C100's. The MixPre-D goes in line between your microphone and camera. When you use the MixPre-D, make sure to set your camera inputs on "line input" so you bypass the cameras lower quality preamps.
Zoom H4n Sound Recorder
If the 722 is out of your budget or you don't have onboard XLR inputs on your camera, check out the Zoom H4n. It is a great, cheaper alternative to the 722. It also records 24-bit .wav files with two mic inputs and 48v phantom power. A plus for the H4n is that it's smaller and has some pretty good built-in microphones for sound bites and environmental sound.
Small Diaphragm Microphone - Schoeps CMC641 and Oktavamod MK-012
We use short condenser microphones on most indoor video shoots such as testimony videos and stand-up news videos. These microphones sound the best in quiet environments.
Shotgun Microphone - Schoeps CMIT5U, Sennheiser MKH-416 and Audio-Technica AT875
We typically use a shotgun mic for outdoor video shoots and any time the mic needs to be placed further than 18 inches from the talent's mouth.
This is a wired, XLR lavalier microphone that we use on "one man band" shoots. It's easy, and sounds pretty good.