Read this, seems like there is an HD Facetime cam.
http://www.apple.com/ca/macbookair/features.html#thunderbolt
"Gigabit Ethernet, FireWire 800, an additional Thunderbolt port, three USB ports, a FaceTime HD camera, 2.1 stereo sound, and a built-in microphone. The display even charges your MacBook Air, so theres no need to unpack and unravel your power adapter."
http://www.apple.com/ca/macbookair/features.html#thunderbolt
"Gigabit Ethernet, FireWire 800, an additional Thunderbolt port, three USB ports, a FaceTime HD camera, 2.1 stereo sound, and a built-in microphone. The display even charges your MacBook Air, so theres no need to unpack and unravel your power adapter."