Bear in mind that I'm in the video profession part-time, and therefore a total video nerd, so my judgement on these matters may be slightly skewed.
The camera in question appears to support the theory that still-cameras are generally not the best video cameras, and vice versa. It appears to be a fairly decent-resolution 5 megapixel still camera (2592x1944), but a fairly low-reolution video camera (512x384), and although the manufacturer claims it records at 30 frames per second (fps), the two sample videos I suffered through do not appear to demonstrate that. They appeared to be running at about 15 fps. Ugh. No offense to anyone already using this system, but I find the picture quality repulsive. (Thomas, your acro video at least demonstrated it at 30 fps, which was much better than the manufacturer's demo!)
In the rapidly-evolving world of consumer video, I would stay away from the lower-res systems. I think that after the novelty of having a video camera on/in your airplane fades, you'll grow tired of the poor picture quality very quickly. At the very least, I would look into higher-resolution options, such as the
Datatoys XM-DVRs that record video at 720x480 30fps (NTSC) or, for lucky European consumers, 720x576 25fps (PAL).
There are others, and I'll try to post some more links this evening when I get home.