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Cheap, cheap? How about your cell phone? A lot of them will do 720p these days, and the picture quality should be as good as anything you can buy for $150. The trick is to mount your cell phone in landscape mode on a tripod, to get a really steady shot. There are plastic clamps on eBay that will do the trick.
Spend the $150 on a decent digital sound recorder. When you are ready to shoot, turn everything on and make a loud hand clap near the digital recorder and in view of the cell phone. You can line up the audio and video tracks in your NLE, using the hand clap.
I once had to use this approach as a McGyver when my main camera failed, and I was surprised at how well the footage turned out. One important factor–I had controlled lighting, which made all the difference in the world. With good light, you get good picture, even with a relatively cheap camera.