Originally Posted by Benjamin Marks
4) Don't worry about vibration. It isn't an issue that can be managed by placing a camera on your body vs. on the frame. When you travel by bike, you are essentially a giant sack of water sitting a metal frame. When your wheels hit a pothole, where do you think the impact of that event goes? Right into you and everything connected to you. Just buy a used Oly for $150 and smile when you touch that shutter button.
Potholes, sure, vibration, no. Inertia prevents an adult human body from being accelerated like that. Sack of water is exactly the right metaphor, it would make for a decent camera suspension system, I don't understand how you arrive at the wrong conclusion from it. Try transporting a carbonated drink on the frame and compare to one from the backpack.
Your solution of using an affordable camera on the bike I fully support.