Don't know if I'll be much help, dont know the first thing about cameras tbh.
But my mate has got one which he uses for surfing, and its great for that. The quality is ok I suppose, its not by any means excellent quality as far as I can remember. The selling point of the camera is the fact its waterproof, and being able to comfortably strap it to your wrist. I'm not sure if I would spend £100 on it for biking use, I would for surfing though.
Heres a vid of youtube anyway, might help you make your mind up
http://www.youtube.com/watch?v=UhMf8pr6LZQBorgia