Absolutely!

The very best equipment is equipment you can use right now. Nothing is worse for a new moviemaker than waiting until you have top of the line equipment to start making movies. Make a dozen short movies with that equipment - learn more each time, try new things, add pieces of equipment as you grow (microphone, lights) and then move onto better cameras.

Keep us posted.

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The aim of an argument or discussion should not be victory, but progress.
Joseph Joubert, essayist (1754-1824)