Any video camera is going to bounce around when the boats under way. The only way around it being an expensive gyroscope. (I have a link somewhere on how to make your own, I'll dig it out later) So yeah it would be around as good as any as long as you water proof it some way with out covering the lens. Not sure what the picture quality wwill be like on that one though.
Check that it can take SD cards over 8/16gb so you can store more and yeah they are much better.