Sony Ericsson

Ive been reading up on the s700 and am very close to deciding whether to buy one but theres one thing i need clearing up for me. Is it true that the 'unlimited' video recording is actually limited to about 2 mins even if you're saving to memory stick or is it actually unlimited as in record till you have no more memory s700 users please get back to me ASAP
Thanx
P.S can you recommend a few good sites where i can pick one up cheap as i am UK based and its hard to buy Sim free out here