Check out the Sanyo (recently bought by Panasonic) Xacti line http://sanyo.com/xacti/english/
They have a couple different form factors, available in HD, and one model is waterproof. They also have a model with 30x optical zoom... But I'm not sure if I believe that. $200 to $500 price range depending on the model. Also it claims they shoot 10.0 MP pictures. Not sure how good the sensor or anything is, but that is still a high number for a video camera.
I was going to get one last spring, but opted for a pretty nice Point and Shoot instead.