Re: Let me re-phrase that

There are no short cuts, not really. But you can start inexpensively. Read all you can, for free online as well as used books bought cheaply on the net and things in your local library. Rent good examples of movies and TV shows and watch them with the sound off, making notes about the choices of shot composition and framing and the kinds of edits made. Watch with the director's comments turned on, look for hints.
Visit tutorials like DJTV at digital juice.come and see all their short web videos, both seasons. Some folks like the humorous tutorials at Acceptable. Another site is videouniversity. And I have not yet decided if this is for real or a joke, but there is a site by Dov S.S. Simmons that advertises a five-minute film school. Some of his tips are practical, others seem bizarre.

As far as buying a camera, for someone at your level, I would not bother with a thousand dollar camcorder yet. You can practice with something in the $200-$500 range (perhaps used) with a firewire port so you can import the footage into your computer and practice editing it... and learn all the basics, just be sure the camcorder comes with external audio inputs as an option so you can plug in better microphones. The on-camera built-in mics are only good for recording someone at arm's length from you.

Spend some more money on a good tripod, and build up a good light kit over time, and don't fret about how fancy the camera is so much. Do your early explorations either outdoors or in well-lit rooms to start with. I recommend doing simple interview recordings of people telling things from their lives. Learn how to compose a shot and to move the camera around a scene without using the zoom at all, EVER. Learn the basic types of shot, learn about the line of action, matching action, the rule of thirds, and three-point lighting. Learn what cut-aways and B-roll are. Practice continuity. Every night, watch an Emmy or Oscar-winning pro example from the movies or TV, looking each time for just one specific element: the camera directing, the editing, the sound, the lighting, etc. You will begin to get a feel for these things, an appreciation, and your self-teaching will accellerate as you gain skills and understanding.