Bought this camera for skiing and it is excellent - completely waterproof and very easy to use. Have managed loads of footage of the family skiing and am looking forward to using it on the next holiday.
Have had this camera a few months now, it's brilliant. Was originally comparing it to the much more expensive Sony camera, but am glad I opted for this one.
The good: Great video, much better than filming to tape, has a standard thread if you want to put it on tripod, 8 megapixel sensor lets you shoot video and stills, waterproof, uses standard cards, not proprietary Sony Memory stick.
The bad: Runs a little hot if you're filming for a long time, but not in a problematic way, can shoot video while filming, but only at 2 megapixel, you need to stop filming to shoot a full res. image, a bit slow taking a picture (3 seconds), anyone taking a picture for you needs to be shown how to work everything, even though there are two big buttons for video and film.