I considered it. But cell phones are really making most other types of cams obsolete and many already have a smart phone.
You can literally have your friend\spouse etc download skype,imovicha,google talk etc and broadcast your hunt to anyone who has it downloaded. Think video chat with a friend but on your bow.
Also you don't need to purchase a cam.My phone is 5 mega pixel so the clarity is there.
The possibilities are endless with a smart phone. So many more things you can do with it vs a regular cam.Cell phones are much lighter and have little or no moving parts.
It takes a second to snap the cam into the bow and you are set.
I can send video via email,blog etc with video on it instantly.
The coolest part of all of it is rang finding. I haven't been able to get the range finder to read yardage on very uneven terrain.
It works on flat ground and on constant slopes.
My plan is to develop software (application) that can be loaded to enable a crosshair or pins , with the correct pin illuminated for the shot distance all the while recording the hunt.
A camcorder just can't do any of that.
Your phone could take the place of your sight with zoom etc...
It is the future of hunting with a bow unless legislation is drafted to make it illegal.
Read all about it here:
http://forhuntersbyhunters.blogspot.com/
Click on the Smart Phone Video mount tab or scroll down the "Home" page for the history of development and possible applications.