I didn't get to go around to test the Flip Video Action Mount and the Garmin 305 Edge yesterday afternoon because of the bad weather, so I woke up early today to try it out.
With my Flip Video Ultra, the Flip Video Action Mount isn't stable. This is probably because they used velcro straps to secure it on the handlebar. It's something that I'd consider to take with me on a road trip but would make me think twice in bringing to my usual trail riding. The quality of the video is too shaky - it maybe good for a Blair Witch Project-type movie but not if you want to view your ride on your widescreen TV with your friends. I think this can be addressed by switching from a handlebar mount to a helmet mount.
As for the Garmin 305 Edge, it was the bomb! With the cadence sensor installed and the heart rate monitor strapped to my chest, it offered a new window of data to a gadget geek like me. Not only did it offer me the usual speed, time and distance data, it also gave me gave me my cadence, heart rate, total elevation, plus it mapped out my ride and layered it on Google Maps! Really Cool!