I am also interested in a lower priced action cam, but don' want to have a box sitting on my head. I did some research on Ion and Contour, an found that they merged in mid 2015 to try and survive the GoPro mania and the onslaught of new competitors entering the market. The new company was going to keep offering both brands, but it sounds like they (Ion) just filed for bankruptcy with sales dropping in half over the last year. They make some other security and body cam items, so I would hope they survive. For $89, I'm thinking about buying one of the Contours off Amazon. However, with these types of cameras, you have to physically delete everything off the card to have it start re-recording.
2009 Versys (Mine's Green)