I’m looking at options for recording adventure racing events.
This would work.
VholdR Wearable Camcorder (Black) ($330)
Leave a comment if you have any other recommendations.
“Waterproof” (or water resistance) is a big selling point. Here is the VholdR being used on a Jetski.
besthike.com 
An alternative to explore is the Oregon Scientific range. I bought the ATC2K for around $100 but had limited success with it. The lens is waterproof, though pretty poor and it’s difficult to get a good result in it .. a days’ snowboarding produced pathetic images, but I did fare a little better with it at the San Francisco bigwheel race ..
It needs a wider angle lens, so I stuck a plastic fisheye lens on the front and managed to get much better video from it, but I did break the waterproofing in the process ..
http://www.flickr.com/photos/yorkie/2933012059/
Oregon realized the shortcomings of the lens and produced the ATC3K which apparently has a much better lens, but I haven’t been able to check it out yet.
Thanks Stuart.
I am not much worried about quality. Both those clips looked fine to me.
More concerned about the gear surviving the race. Cheap might be the answer. I won’t care how long it lasts.
We used the GoPro Cameras last year at Primal Quest, and they worked out pretty well too. Nice little cams, but the quality varies greatly. Perfect for stuff like YouTube though.