I see that Aldi have a waterproof camera on offer this week at £39.99, and wondered whether this would work as a cut price version to the Gopro route? The three year guarantee might be of some value given the salty environment which the camera would work in.

On the cut price route, I see that Lidl have/had a £99.00 waterproof video camera, and an twist and grip mounting tool which looked like it could be employed to fix the camera to bits of the boat.

Are they worth a look, or are they too basic?

however i completely loved it to bits :) 

What I've found with the cheap one I bought (and the gadget show found, too) is that the Gopro has a wider field of view than many of the others, so you get more boat in the shot. Of course, I may be missing something with different lenses, too - my knowledge on such things is minimal.

The other thing to think about Peaky is what cameras your friends might be using.  I've borrowed and swapped bits from friends when they're got a mount or something I don't have, plus if you want to comp film together from each others cameras, say your making a promo for you club or something, then all using the same brand might make things easier.

Think of it as fleet mentality for film makers 

Drift Ghost HD. http://www.actioncameras.co.uk/drift-hd-ghost?gclid=CKfQlqfI77MCFe_MtAodHCQAUQ

• Remote control ( waterproof with function lights )
• Waterproof (3m - housing available for deep work)
• LCD screen as standard (for immediate footage playback)
• Better colour rendition, (rather than the horrid warm GoPro look)
• Standard photographic screw thread mount (fits on you tripod or other photographic gear)
• Lens is rotatable to allow you to mount it where you can and then turn the lens to the horizon line.
• super slow motion. 11meg stills pics... etc... etc....
• WiFi enabled

I have the Drift HD (previous model) which this updates and It's much better than a GoPro (or others) and the Ghost is even better.