a low budget handy cam would do fine anything that shoots 720p will be good enough unless you are wanting it on TV you could use a mobile phone but it might not be reliable although a gprs tracker might be handy for after it crash lands :-)
I think we had some discussion about doing just this a few months back. I think its an awesome idea. I'd certainly be willing to throw down some bucks to make it happen. Even though he's absent at the moment, I know thenewgreen would, too. The idea of recording a hubski space flight is too cool to resist. Maybe we can set up a donation site. I can't imagine it would cost more than a couple hundred dollars to get the supplies together.