Can anyone tell me why the clip at http://video.google.com/videoplay?docid=2762560646642582311&hl=en is recording the way it does (with the rippling effect)? I'm not sure if it's bad tape stock, do I need to clean the heads, or does it have something to do with the white balance and the type of lighting?

Thanks.

What kind of lighting? looks like it might be Fluorescent?
What shutter speed?

It was a room with fluorescent tube lighting. Shutter speed I had set to auto, but running in 24p mode.

Try an exposure of 1/60.

Discharge lighting; e.g., fluorescent, does not provide a uniform light output, but the light level increases and decreases with the power cycle. If the shutter speed does not capture an even number of half cycles (e.g., 1/60 or 1/30) you may encounter this sort of fluctuation in light level. And if you are using high shutter speeds at 60i you may see the white balance drifting back and forth over time.

The explanation makes complete sense. Thanks for your time and knowledge!