Surf Hero GoPro
This board-mounted waterproof camera takes stills and short video of your best rides. The little bit of added weight at the nose of your board changes your riding style, but one reviewer found this advantageous for cutbacks and a few tricks. The time-lapse feature is great to make even your least-exciting ride and interesting montage.
Olympus 1050sw
A great everyday waterproof camera. It's 10.1 megapixels for quality stills, and has a 3x optical zoom to get better details. Because it uses an XD card for memory, it can only catch 10 seconds of video at a time, but it'll definitely catch your best moments. The best part is this is a camera that doesn't "look" like it belongs in the water. Bring it with you onshore to catch photos out of the water as well.
Pentax Optio W60 Waterproof Camera
This is the gold standard for many surfers, including professionals like Kelly Slater. It's got 10 megapixels for quality photos, and a 5x internal zoom---no worrying about your lens getting knocked off. You can even take it underwater, down to 13 feet. The video capabilities are great, capturing HD, widescreen movies. There's even a shake reduction mode for video. This camera also has auto shut-off so the batteries can last well over 2 hours.
Olympus 550wp
An affordable, well-rounded waterproof camera. Having 10.1 megapixels means sharp resolution, and 3x optical zoom allows you to get better detail shots. It also only weighs 4.5 ounces, so you'll barely notice it while riding the waves. There's a shake reduction option in video mode, as well as face recognition technology. This camera is waterproof up to 10 ft.
The GE G3wp
A step up from 10 megapixels at 12.2, this waterproof camera takes crisp and vivid shots. Couple that with a 4x optical zoom, and it's similar to having a professional grade camera with a 35mm lens. It's lightweight (4.2 ounces) and sleek, making it a great option out of the surf as well. The screen is large and clear, and the easy-to-read dial makes changing modes a bit simpler with waxy fingers. The camera is waterproof to 10 ft. and has a shake reduction option for video.