So way back in Feb. I ordered one of these Flag Buddy products. I have been using it a few months now (since May 1st) and finally got around to snapping some pics.
My report is that it is the best flag solution for wakeboarding boats that I've found. It can mount in a lot of places, but I mount it right to the front of the bimini on my Malibu and it provides really good 360 degree visibility. Its also very sturdy and has never fallen off.
Here are some pics of what it looks like:
Full disclosure: I am not employed by or working for anyone in the boating or flag industry, and I don't even know the guy/company that makes this product other than when i ordered it from their website. I have no vested interest in this other than to put the word out to other wakeboat owners would need a flag solution like I did.