Swann's $500 FlashlightDVR is a flashlight with a camcorder built-in, pitched as an "invaluable tool for covert surveillance." As you can see, it's completely inconspicuous.
It saves MPEG4 video to 128MB of built-in flash or SD card, and it has a USB port for easy uploads to computer. It records audio and has "Night Vision." Thought the resolution is only 640 x 480 (0.307 megapixels), it recorda 30 frames per second and runs off of generic C-size batteries. Swann hopes that it will be popular with cops and private investigators.
Product Page [Swann]