I almost bought a flip. They are great cameras but I have a friend with one and I now recommend the Kodak Playsport if someone is thinking about one of these for several reasons (Now this could have changed with newer models because I researched this a year ago):
1. The playsport uses reusable media. If you feel up the memory on the Flip you have to download to a computer. This could be a pain if you are out longer than normal and fill up the memory. With the Playsport you just take enough memory cards with you as it uses standard SD cards like most digital cameras.
2. The playsport has waterproofing. It can be submerged up to 9 feet. I have used mine at waterparks, in the pool, etc...
3. The playsport has cheap removable batteries. I bought a separate charger so now I can record longer (to complement the extra flash cards I purchased.) i plan on taking my sony camrecoder because it weighs less than two pounds and it's small so it will not take up too much room. the viedo is pretty good and i can upload it into my lap top. this camreoder also takes photos and the quality isn't too bad. I say take your reocder because so manny of them are small and the quality isn't bad
The downside to the playsport is inside dark places it isn't quite as good as the Flip. The difference is pretty minimal though and the video quality is very similar between the two devices.
Definitely compare the two and see what you think.