WxCam 1.0.2 is a simple and neat application for recording video and audio with a webcam.
My webcam is a Logitech Quickcam Communicate STX that worked out of the box in my Ubuntu Linux 7.04 on a Dell Inspiron 1420N laptop.
I downloaded the .deb, installed and voilà. After quickly configuring wxcam to record compressed video in xvid (Settings -> Preferences -> Video), I was able to record video+audio while seeing what was being recorded.
Another alternative is using memcorder:
mencoder tv:// -tv driver=v4l:width=320:height=240:device=/dev/video0:forceaudio:alsa:adevice=hw.U0x46d0x8d7,0 -ovc lavc -oac mp3lame -lameopts cbr:br=64:mode=3 -o $1
but the problem is that you can’t see what is being recorded. If you start Cheese, you can, but then you can’t record at the same time. WxCam does both at the same time.