We shot this video a couple of years ago for Sanyo's advertising agency. Pure advertising BS for sure, but the cameras worked really well. Everything, the video, the stills, the 7 frames/second sequences, the 200 frames/second slow-motion, and the audio were done with the Xacti (the second camera filming Jeremy, was also a Xacti).
http://www.youtube.com/watch?v=Lh-5lzqL6wk
With Sanyo's horrible marketing campaign, you can get an HD video cam with 14MP still capability that can rip 8 frame/second sequences for aroud $160 mail order with waterproof versions around $200 - $300.
Just another option if you're looking for one camera that can handle video, get good stills, be fast enough for an action sports sequence, in a small format all at a great price.