Yah definitely, in fact I'm asking for a Pocket Cam from Santa this year because they're so useful

If you can stand to wait a week or two, the 3rd-generation VadoHD will be out for $179. It has a wide-angle lens and mic input, plus manual aperture control, although it's only 720p resolution. I like the picture from the Vado a lot. Here's a couple sample clips from Youtube:
http://www.youtube.com/watch?v=w_khxbDwjVg
http://www.youtube.com/watch?v=e07nuA_uphY
Plus it works OOTB with Windows & Mac, which is nice. My bigger Canon camera requires transcoding before I can editing anything, which takes time, and sometimes I just want to shoot stuff and edit it quickly to throw up on Youtube or via email or whatever.