I have a canon HV40 ($650 form B&H) and I bought an adapter from this company called twoneil ($350)
I use old nikon primes from an old nikorrmat that I have. I am so pleased with the results. I have shot with the 7d, and I love my little setup so much more. It feels more like film rather than that cold digital HD look.
Downside is the consumer cameras you really have to kind of cheat them. You don't have full manual of control of gain, iris, and shutter speed. BUT you can trick the camera by adjusting certain things for every shot.
And everything you shoot is upside down, which definitely takes some getting used to, I'd definitely recommend a nice HD monitor that lets you flip the image...and for focus
Heres some examples of things I've shot on it. Keep in mind lots of color correction went into this.
(yes there is some shakiness on the first one, this was the first thing I shot when I got the setup, shot in couple of hours and I was too lazy to crop out the borders on the side from the adapter)
http://vimeo.com/10040295
and a trailer for my most recent short.
http://vimeo.com/10686734
I'll keep my 35mm adapter for now.