It looks good - probably not as rugged as the ATC2K, but then the main camera itself will be in your backpack or pannier. If you want to search for reviews, apparently the camera itself is the Aiptek 8900.
One advantage it has over the ATC2K is that it has a built-in LCD, so you can review footage without needing a computer. The video resolution looks the same, at 640x480 @ 30fps, which is more than adequate for capturing number plates. The package basically comes with two cameras - one built in to the unit and a 'bullet cam' you could put on your helmet which you'd use when riding. I'm not sure how good the quality of the bullet cam will be, but you could always upgrade it with a different bullet cam later if you wanted to. I guess the other advantage is that when the bullet cam isn't connected, you can use it as a small video camera/ stills camera anyway.
According to the Aiptek website, it saves video in mpeg4 format, but it doesn't give the bitrate, so I don't know how much footage you could squeeze onto a 2Gb SD card. I'm guessing it would be at least as good as the ATC2K though. It also doesn't say anything about battery life. It's got a lithium battery, but it's only 700mAH, which isn't very much.
In short, I'd be mighty tempted by that camera, but I guess unlike the ATC2K, there isn't a wealth of current owners to give you an opinion on it, so it's a little more of a risk.
There's a bit of footage up on Youtube of the sporty cam - just do a search for 'aiptek sporty cam' - and it looks okay.
This review suggests the battery life is about 90 minutes, which isn't that great. The video clip he shows is 31 seconds long and weighs 13.4 Mb. That would give you about 77 minutes of footage on a single 2Gb SD card.
I think you should get one just so that the rest of us can get a review of it
