Aye, 720P is the way forward, Poss to use a mix of 30 and 60FPS kit, 60FPS footage can be slowed down to half speed for action shots without looking shite.
The video could look a bit disjointed if the footage comes from too many sources - some kit will be better at setting up the WB on auto than others. Some of this can be fixed in the edit.
I've got a headcam (Drift HD) and a digicam that both do decent 720P. Choice of codecs is important, too much transcoding reduces quality. I have video's that look excellent viewed on the PC, but noticibly worse after youtube/vimeo have 'chewed' on them.
Action cam on the end of a ski pole or on a telescopic camera mount always makes for much better/more interesting footage than one mounted on a helmet/ski (can be OK on a board though, less vibration). Footage from a pole mounted cam is more steady (pole acts like a steadycam) - this in turn leads to an easier life for the video compressor (better quality).
I edit using PowerDirector on a PC which seems to give decent results.
Modern HD video capable DSLR's can give some fantastic results. My brother (who does short films) has taken to shooting on DSLR: [vimeo.com
My latest MTB video(!): [www.vimeo.com
Some decent backing music is required too - no good using your MP3 collection, needs to be royalty free or licenced content.
Edited 1 times. Last edit at 10.56hrs Mon 24 Oct 11 by veletron.