Cheap filming equipment

I'm looking for a video camera that is fairly cheap that can do a few simple things. I basically just want to be able to film my riding for critiquing reasons. I just want something that is about the quality (or a little better) than the video from a digital camera. My dig camera takes video that's good enough for my standards but it eats my memory and the video gets cut pretty short. I also want to be able to film an entire run continously.

What should I look for and how much should I expect to spend?

And as a side note question when you guys who film from the boat, do you use tripods or do you just hold them?

And as another side note I may possibly want to make a youtube quality set of the week video of myself with simple editing. What would be a good simple video editing program?