In case yer wonderin' what we use...
We've been using the Canon XA10 since around the time we filmed our Scorpion vs Sub Zero Fight Video. We went for this camera because of its excellent video quality, imagine stabilization, and dual XLR inputs on a $1499 camera. The Canon XA10 also excels at low light performance, offering aperture as low as f/ 1.8.
We just started using the Panasonic GH4 recently, with the first video being our MK Christmas Giveaway Video. We were both impressed by this cameras ability to capture stunning 4K video while being a comparable price to the Canon XA10. We have yet to work out the bugs, but features include Wi-Fi Remote/PC Link, an array of customizable settings, and a fully waterproof body.
This lens is a must have if you're intending to buy the GH4 for Youtube Skits. It's a short range lens so you won't be able to record long distance shots like at events, but close range recording is as crisp a quality as possible, and this lens has image stabilization features that compliment the GH4.
We bought the Rode NTG-2 with our Canon XA10, so almost every video since then has been recorded using it as a microphone. It's a fairly good mic to use as either a shotgun or a boom, and a much cheaper option than the NTG-3.
If you're looking to use XLR Audio, but limited by a camera that records only 3.5mm (like the GH4) then you'll need to pick up the Zoom H4N. This recorder allows for two XLR's/Guitars to be hooked up in the bottom, and also gives you the option to record with the built in stereo recorder as well. Just make sure you also pick up a Clapboard so you can match your audio to your camera with the Recorder.
We used to use Sony Vegas, but both of us had a lot of crashing and general lag. Because of this, we switched over to the Adobe Creative Cloud. If you're a student in College, you can pick up the Suite of Adobe Programs including: Photo Shop, Premiere Pro, After Effects, Audition, and more!