@CRFilms For $30 you can get the Cowboy. I have one and it's perfect. Does what it's supposed to do. The Indians are out of control with prices -- or has the nation of India relocated to Switzerland? The Cowboy will do anything the Indian above will do or rip off other brands, and more importantly, the Cowboy is made in a proper Asian sweat shop.
The Cowboy Studio shoulder mount is not only cheap, it's also virtually weightless, made entirely of plastic. Unlike a steadicam, you brace the camera with your hands and it follows the movement of your shoulder. I think it works best with a lightweight DSLR and definitely with an OIS lens.
Contrary to the video above, you need to position the camera close to your head. If you use the extension arm to mount the camera, it will act as a lever arm to amplify and exaggerate any shakiness. I wouldn't try to walk, much less jog, with this rig, it's strictly for stationary panning or zooming. However, it's useful in situations where maximum portability and minimum weight concerns preclude the use of a tripod or a 15mm rails mount.
@CRFilms You can maky any fantasies :-) And dream of $50 good rig. Either you can get Indian $175 rig, it is quite good designer, very simple. Or design your own rig and get it for $0 if it'll be really good :-)
@LPowell It's hard to believe there's any solution short of a stedicam that would work well for running and walking. That $175 Mumbai/Geneva special would be just as bad. The GH2 in general, with the rolling shutter, suffers when trying to shoot anything handheld.