Video Recorder is now available on the Nokia website. This version (Hantro 3.4) supports audio recording and playback with video. This version is also said to work on the Nokia 7650.

See also more discussion here:
http://www.allaboutsymbian.com/phpBB2/viewtopic.php?t=9215

The videos can be played back using the Real One Player. Additonally software for the PC can also be downloaded in order to play the videos on the PC (available from http://www.nokia.com/nokia/0,5184,5371,00.html).