I am the developer of a dashcam app (DailyRoads Voyager) which has been used on almost all the Android phones since the G1. Only on the Droid Bionic it can't seem to record properly at any resolution. I've been told the resulting videos contain green/purple lines, and this happens with other video apps, as well.
Was anybody successful at recording with any app besides the stock camera app? If so, do you know what resolution/encoder combination was used? If you can send me a video, I can look at the headers to find out.