Archos 405 2GB + Bullet Camera
Almost forgot, the cost for this set-up is £143. About £45 for the Archos 405 2GB, a 16GB SDHC card at £23 and the expensive camera at £75. This is pretty much the cheapest set-up I've been able to find (that records to some sort of quality).
Hopefully I'll get some nice footage - we'll see.