This is definitely a very interesting subject. Which way you choose to go greatly depends on what type of output you most prefer. When you lose your mind and go crazy with all of it, you'll have bins of cameras and lenses
I'm fully hook line and sinker and have all the above. I started my recent frenzy with the TM700 in 2010 for my San Juan Elk hunt. As shedygaga said, it's is the most versatile camera you can own. It's autofocus, auto exposure and zoom range from 25mm - 690mm equivalent is untouchable in DSLR terms.
I then took a punt on a T3i for it's 3x crop zoom function that triples the focal length of any lens you attach to it. It turns out my dad bought a 600mm Nikkor lens after I went away to college in 1980. With this I was able to get an equivalent focal length of 2880mm for those ultra long range critter shots. The down side is that the combo with a stiff enough tripod weights over 20 lbs. Add all the other lenses you'd want with that DSLR and you're into it $6-$8k if you had to buy it all to equal the focal range of the camcorder.
Now I've moved over to a much lighter system in the Panasonic G6 mirrorless dslr along with a gopro and the TM700. The combo with three lenses, tripod, stabilizer and extra batteries weights about 6.5 lbs. That is something I can carry on every hunt. It gives me every thing from the shallow depth of field hero shots with a 17mm f/1.8 to an equivalent 1500mm using a 100-300 zoom. The TM700 is still the go to cam for action shots in the heat of the moment. I keep it in a small bag on the shoulder strap of my pack at the ready at all times.
Here's a couple of my latest vids with the G6, Tm700, GoPro combo. I don't think there's any cameras at any price that can compete with this setup for image quality vs. weight.
https://vimeo.com/83098895 100 Days (Wasatch Front extended, check out the cougar clip at 8 yards with the TM700)
https://vimeo.com/79562320 Kristin's Curly (late Wasatch Mtns rifle elk hunt, check out the vapor trail of the bullet going through the horn and dropping the elk)
In any case the DSLR's are awesome as BigSur said for both video and stills. The camcorder is the go to cam for video in the heat of the moment. If you can swing used of each from the ksl or craigslist classifieds you will be totally set.
Cheers,
Pete