Anyone used a Manfrotto 585 ModoSteady
 

I have'nt seen one yet but it a cheap (very cheap) steadicam idea called the Manfrotto 585 ModoSteady. I believe it is around $115.
I cannot imagine it works well, but you never know!

I bought one, use it with a HFS10 and would buy again - it's well designed and a genuine bargain compared to what else is available. It has a ball joint instead of a gimbal, but really works as well as anything with a small camera. Very useful if you need a more pro look. Easily folds up small for portability and you can also use it as a table top tripod. Easy to set up but the quick release isn't really. Otherwise same things apply as a steadicam - If you have to decide between the two, a shoulder brace is better for following outdoor action.

I've had one for a couple of years, and it works quite well with a small camera. I've used it with my VG-10 as a shoulder brace, and it works well for that, not so much as a stabilizer. However, mounting my Nex 3 on it is bliss...that little body is perfect on the modosteady. It centers very easily, and it's butter smooth..good value