I use an Olympus Camedia C-560 Wide Zoom on the bike. I made a lot of the on bike shots on VeloWeb with it. Video quality is very good as well (
compressed example). It is pretty bulky though. For Paris-Brest-Paris, I borrowed a waterproof Pentax Optio. It rained the whole time but I just pulled the camera out of my soggy jersey pocket and grabbed shots. Great little camera. The new W80 -- 12.1 megapixel Waterproof, Dustproof, Coldproof and Shockproof Wide-angle 5X internal optical zoom -- looks awesome and I'd like one of those when I can afford it.