GoPro Hero works well as does Oregon Scientific, both of these work very well. GoPro needs a waterproof case available as an extra, Oregon Scientific is waterproof in its own right. Both record in HD quality.

Harry

I was thinking along those lines but "SD card " smaller camera.
Seen a few, but pretty hopeless.
Any suggestion on that? Thanks.

Mine uses an SD card and is full 1080P. There are numerous cameras that will fit your criteria with out going to the expense of a Hero. There was an interesting thread here a couple of days ago.

forums.ybw.com/index.php?threads/filming-under-water-with-a-waterproof-camera.322585/

Dylanwinters makes yachting videos for youtube and is very successful.

I normally carry an old Kodak Easy share 433 when sailing. They are about $20 on eBay.
Takes excellent stills and with a 1.0GB card takes 25 minute videos. I use it for all sorts of stuff, recording details of stuff, poking it down the back of the engine to view bits I can't normally see. Videos of sails I have modified, windvane details etc and its fine for Youtube videos. I sail singlehanded 99% of the time and take videos to show the Missus what I have been up to, especially when I fly a spinnaker. The movie camera I bought was to replace the Kodak and is really a bit of an overkill.

$500 must buy an extraordinary camera these days.

Thanks for the feedback. This is what I've found which looks good.

www.tachyoninc.com/index.html

For just over AU$200 (includes batteries, etc) it seems to fit my needs.
Has anyone used this one?

Some good info this morning on the YBO forums and some interesting recommendations.

forums.ybw.com/index.php?threads/wide-angle-capable-small-camera.323003/