Ok, we probably would catch some interesting stuff - Google cameras sometimes do and they have to monitor the footage and redact it. Apparently that whole idea is legal and feasible.

It would be thousands of hours of video, unorganized and difficult to access, which brings up an off-topic idea. Wouldn't it be great for a site to interface all of this cycling footage into a global network, just like photos on google maps, where you could view the most recent video from any road or trail segment and also pan backwards through time? Aside from trip planning etc, if some driver was a habitual offender you could crowd-source tracking his infractions and then you could present them all to law enforcement, or to lawyers in a civil case, or his insurance company etc.