I have the Panasonic Lumix FT-1, heres a clip of me sailing at Kent Reserve in SA (Victor Harbour) - The panasonic footage is the footage taken from the mast tip, the HD setting on the camera is first class,
I have it mounted with a flymount, have only used it once, but its a sturdy bit of kit in my opinion,
I was nervous about a $400 camera sitting on the tip of my sail though
As far as weigh goes, sure its probably heavier than a Go Pro, but I like the flexibility of it, the Panasonic, being a really good land based camera as well,