Cheap all-in-one digicam/camcorders - how crap are they?

I would like a webcam and an inexpensive digicam I can take with me anywhere - I am attracted to the new breed of "do everything" devices like this NISIS DV4 http://www.nisis.com/Products/DigitalCameras/DV4.asp

Has anyone tried this or the Mustek DV4000 or any of the other similar products? Are their optics just too primitive to take seriously? Is it worth waiting a few months for them to get to at least 3MP resolution? Or should I buy one now and save for a "proper" camera in a year's time?

Does anyone have any experience with these low-end gadgets?