I have it firmly mounted in the nose of the fairing, with decent results. The hole I cut is a little larger than I wanted, but it forces the body of the camera into the hole, which keeps it more stable than just trying to mount it and drilling a smaller hole for just the picture. For the price you can't really go wrong.
This is an example of the quality you can get - just a clip of a highside at the Jan Infineon day last month. Decide for yourself if its worth it. It definitely helps me analyze what I'm doing on track.
http://www.youtube.com/watch?v=mAD4WDGdUjo
Also here is a decent pic of the hole I cut sans camera, to give you an idea of how I have it mounted.