Bought one of these a few days ago, arrived this morning and I just tried it out on my RC plane. Fantastic lightweight video camera. You need a micro sd card, or you can buy this camera plus a 4GB card for £16.99.
Would also be ideal for a helmet-cam or mounting on your bike handle bars.
And at this price it doesn't matter too much if (when) you crash!
7DayShop have an example video taken with it, uploaded to youtube.