Hotrod,
You can do it, but I wouldn't expect very good quality from that combo......even zoomed out the GC1 has a narrow field of view...what that means is you will see every bump and vibration in the road and a very little perriferial view...which equals "boring"
For example...think about when you zoom in with your digital camera and trying to hold the composition steady...hard to do, but much easier when you zoom out with a wide field of view.
That's why all the popular POV cameras have a wide angle view...cuts down image chatter and much more interesting info in the image.
The tech mount doesn't offer much cushion if it's like mine with just a patch of velcro on it....which will increase vibration.
If your serious about this...save up and go with the GoPro HD...Tim At Pashnit has the best deal going. They can't be beat money or image wise!
Hope this helps.