I picked up that Virb at around $100 on Amazon as well, too good to pass up. Don't think the additional features on the elite are worth it at all. I'm just waiting on my dual mount from k-edge to put it on my bike. As for a rear facing mount, k-edge makes one that attaches to your seat rails that seems like it would be a great option. If you ride with a saddle bag, you'd have to ditch it though. I haven't seen anything that mounts to your seat post, that would be a great solution depending on the shape of your post.