Ingredients:
1) Two 1/4 coarse bolts (homedepot) 16 cents
2) Two 1/2 CPVC TEE (T junction) (homedepot) 38 cents
3) Two 1/2 CPVC EL (connects to the TEE) (homedepot) 48 cents
4) Four fender washers (homedepot) 52 cents
5) 2 1/4 coarse lock nuts (homedepot) 98 cents
6) pex pipe (connects the two ELs) 1.78 $
7) silver duct tape 4.27 $
5) some sort of foam pad ~8x8in (already had one) -
6) The plot thickens radio shack targus tripod 9.99$

Outcome
extra vibration dampened camera mount, fully adjustable,
all angles even portrait, without any drilling ...... for less than 20$

Approval by the track people (hopefully in the future)..... priceless


Note:
- the bolts can be skipped if only the connection between tripod and the pipe connecting to the ELs and TEEs (to the headrest) is dampened. The 2 bolts and washers are for the little foam cube (see pics) to create a dampening between camera and tripod.
- the tripod can be disassembled into a monopod with just a screwdriver and no force
- the tripod has a quick snap release thing which is very practical.
- after extensive research of low cost cameras that record to flash memory (you don't want to ruin your Harddisk or MiniDV camcorder and the likes by using it under heavvy vibrations), I found the xacti C40 at radio shack to offer the best mix of quality vs. cost (199$ -20% with a radio shack card). It's wide angle is enough, and it has decent optics for the price and a manual focus setting which is good to avoid autofocus problems on fast moving scenery... 640x480 30fps, mpeg4, ... And it is very small and light weight and shoots great in-car videos even when driving at night (tested it). But the audio is messed up when not using a dampened camera mount due to vibration.
- In the pics you can only see the TEEs covered in silver tape and the ELs and the pipe is hidden under the foam and silver tape. I think it should be pretty clear how this is setup.
- The foam cube is basically 4 layers of foam with the 2 bolts separated by foam and all is held together using the silver tape.

Disclaimer: only street tested so far, not track tested... and only for lightweight cameras.

 

Innovative, I'll give you that. Getting it approved?

 

I had a similar setup before getting my rollbar and I/O port camera mount. From my experinece, the camera is not stable enough when just connected to just one headrest. I made a second mount that connects to both headrests. I still got dinged at the track because the camera needed a 'strap'. I then tied a shoe lace from the camera to the baby seat hook behind the passenger seat.
I like home depot solutions