i was actually looking at a previous post above with the DIY sandisk v-mate recorder + sony bullet cam from ebay and think its very reasonable..quality looks good too...thats if you can get these items still on ebay, etc.
Saw some of the guys samples
http://www.cullenrallysport.com/_mgxroot/HighQuality.mpg
http://www.cullenrallysport.com/_mgxroot/newcamera.mpg
and think that its great quality vs cost. only thing is i think he screwed up the aspect ratio that he recorded in..as the sony bullet cam's are not widescreen..if you have VLC or something change the aspect ratio on these videos to 4:3 and thats what you should expect..