The best replacement for v720 is v750.

The best alternatives to v720 are rated as following:
★★★★★  v750
★★★★★  v520
★★★★  x920
★★★★  cx410
★★★★  hc x920
★★★  v700
★★★  sony cx410
★★★  canon m52
★★  x800
★  sony cx430
  hc-x920

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v720
v750
v520