I LOVE the camera - but if you don't have a flasher/show-down or other sonar - spend your money there. A sonar is a far more useful tool.
You can learn a lot with a camera (it's not just a toy), but it def. can spook fish - esp. in clear water (but not always). It seems to me that fish will be shy of the camera or not, in the same way that sometimes you can catch them easily, and sometimes they're tight-lipped.
I owned a FishTV and returned it quick. I'm not familiar with Vexilar cams, but they're probably good. AquaVu and Marcum are the other two brands you'll want to look at. I'd recommend something that displays direction, depth and temp. Consider cord length for the depth where you'll be fishing. Especially, I prefer IR to white LED's. I'm more concerned about white visible light spooking fishing (but I've had glowing eyes swim right in on my presentations illuminated by this light).
Experiment. Enjoy!