I would honestly just recommend getting an HVX.
It's a really solid camera, and I found one on eBay right now for buy it now $425.00 with a battery and (2) 16GB P2 cards.
I looked at the HMC40, that could be a good option for something a bit more compact. 1080 60P and has a zoom rocker. Doesn't look like you can take the lens hood off though, so no fisheye.
I know one of my friends uses the ax700 to film snowboarding as the "homie cam", that they toss around to friends. I think it's a decent camera.