I was intrigued by the device having read about it but after all the reviews, and of the Flip UltraHD which isn't apparently going to be sold here yet, I decided to get a Kodak ZI8 instead.
It has a larger screen (2.5"), shoots 1080p as well as 720p/60fps, 5MP camera, mic input and best of all, uses SD cards rather than built-in flash. I was lucky enough to catch a US$30 discount offer on Amazon and with free shipping (to the US of course) it cost me NZ$202. Add to that $30 to ship it here and it's a bargain.
I had a chance to play with the FlipHd in Dick Smiths and find the screen very tiny - I think the UltraHD has a larger screen but even so, the Kodak is larger again.
Anyway my two cents