From my admittedly quick hands-on, I've pretty much decided that the Kodak Playsport is the most practical pocket camcorder to date.
It's rugged and waterproof up to a modest (though useful) 10 feet. That's nice. But what you can't tell from a spec sheet is that it's wonderfully shaped and very solid in your hand—probably more solid than any other pocket cam I've held. The rubber grip is perfectly positioned to add...grip, and the HDMI/USB ports are plugged with a latch-protected stopper.
Basically, I trust that it's actually waterproof, especially as the demo unit was still working after being submerged for 8 hours.
And as for the internals, the sensor is identical to that in the larger but respected Zi8. So the Playsport's 1080P video should compete with other camcorders in the sector.
Bottom line, if you're taking a $150 camera on vacation, it makes sense for it to be more rugged and expendable than your cellphone. Good for Kodak for knocking out what looks to be a very decent cam. My only complaint would be that I certainly wouldn't mind a larger screen—oh, and what's with the purple back?
Available this April for $150, more details here.