Interesting gadget. I would have said the IgotU was cheaper, but I can't find many sites which are significantly cheaper than the AMOD currently. It looks like the AMOD is larger, but has a greater capacity for logging, plus it runs off of AAAs which makes it easy to get new batteries most places.
The IgotU on the other hand, can log points anywhere at intervals of from second to one hour, which should allow a lot of points for a very small unit and battery (if you don't mind the points being a bit far apart). It can be configured to change it's logging interval with speed, so when it's moving fast (for example in a motor vehicle) it can log intervals more often than when stationary. It has a small internal battery, which charges off of the USB, so it's cheap to run.
When I'm using the IgotU for a longer ride, I'll set it up to store a fix every 10 or 15 seconds, and it'll run for well over 12 hours like that. Other than in the middle of London, you can determine you location when cycling and using a map to find the appropriate road. Sometimes in environments with lots of buildings, fixes can be a bit iffy (too many buildings obscure satellites and cause multi-path reception), and with lots of small narrow roads it can be difficult to work out exactly which road you are on.
As others have said, having it integrated into the camera, so you don't have to bugger about synchronising things would be best, but small antenna size, and power hungry electronics (even with modern improvements on power consumption) make this more difficult. I'm guessing you would have to switch such a camera into a special mode, where it ran the GPS in a sort of standby mode so that the GPS stayed fairly well locked to the satellites and could then get a current accurate fix quickly when you hit the shutter release button.