I have a small cannon that I can pull out of a jersery pocket while riding. It's ok, but the shots can get blurry if the road isn't smooth. I'd love a more expensive point and shoot with a stabilizer built in (I'm not even sure they make one!).

One problem with the jersery pocket is that during the summer, my body heat often fogs up the lens. That's when I started using my bento box! (plus, I'm faster getting it out of the bento box than I was the jersey pocket).

It really helps to practice and take LOTS of photos. The photo of me in my avatar was taken by someone who takes TONS of on bike shots - 1/3 of which don't come out and 2/3rds of which are amazing!