Thanks for your comments !
Remember, this video is shot in England, where we drive on the "wrong" side of the road, and where cars can park on the actual road (typical village lanes where 2 thirds of the road's width are occupied by parked vehicles). The number of cars on either side of the road may be confusing to those not used to it (overwhelming even !). There is a lot of swerving / start-stop involved when driving through most villages in the UK, even when driving a car, because of the narrow passage ways and parked vehicles.
Furthermore, there is no riding "against" incoming traffic in this video, simply because there is no such traffic in the first place (gridlock / traffic jam on both sides ... no vehicle motion). The main safety concern is car doors that suddenly open (typically with parked cars), and of vehicles that suddenly decide to exit the gridlocked lane for a impromptu U-turn (often in anger) !
Regarding the location of the camcorder: the device is actually mounted on the frame, not on the handle bars. The bicycle used is a Brompton folding bike (16" wheels), so the camera is very low to the ground. My eye level is actually much higher, allowing me to see more than what the camera is showing. The left-right rocking of the bike also gives an impression of speed, and unfortunately creates a lot of picture "wobbling" (no image stabilization with this cheap micro DVR MD80 camera).