The Sony CX405 is essentially the CX440 re-wrapped without the wi-fi and built-in memory. Without sacrificing on video quality though, it makes for an excellent budget option.
While 1080p HD video isn't hard to come by for under $250, a 60 fps frame rate and 50 Mbps bit rate is. Video quality clearly isn't where Sony decided to make sacrifices to keep the price low, which is always good to see. Designed for consumers, the CX405 includes an intelligent auto shooting mode, which has always performed quite well on previous models. A 30x zoom and optical image stabilization will come in handy for shooting a variety of different types of video.
What the CX405 doesn't have is wi-fi or built-in memory, convenient features, sure, but it's better to keep the high video quality. Keep in mind though, you'll need a large Micro SD card or two, that 50 Mbps, which is good for video quality, also means larger file sizes. About $70 more will get you both 8 GB of built-in flash memory and wi-fi with the CX440.