The thing is how do you do it? It might be a little more than just sticking a camcorder in someones face and asking them to tell there history. That is overwhelming and most people will either lock up in fear or don't want to do it.
I've been looking into various resources and this could be helpful to those of you who need to have that conversation with an elder or person of experience.
It can be a little confusing. There is an academic practice of collecting oral histories, there a commercial companies that will create a video historical moment and then there are non-profit organizations that want to show folks how to do it.
There is a lot of overlap but can lead to different types of content production. On the academic side of the fence Baylor University has an Introduction to Oral History with a manual that you can read or download.
Some of the information will pertain to academic researchers but there are items of interest to all:
Planning A Project - The who, what and why are you doing this is important to consider.Again, this is just an exploration of oral history and digital storytelling resources that can help us make tell the most accurate story about a person's life.
Choosing A digital (audio) recorder - There is nothing wrong with getting the audio first and then matching it to slide or video later.
Digital Video Recording Concerns - the camcorder information may be out of date but the other items about tripods, lighting and audio are spot on for any interview situation.