Motion tracking in very shaky footage? I have footage of me sitting in a boat filming a friend that is riding a wakeboard. The footage is very shaky and as the boat turns around 180° every now and then, the background is constantly changing.

I tried to set the motion tracking point at my friend's head but the point is just flying all over the place. How can I track the motion in this shot?
If you have access to adobe premiere pro CS6+ or after effects CS5.5+.

Try using the warp stabilizer effect and see how well it handles it.
It would automatically attempt to stabilize the footage (and rolling shutter).
This is probably the easiest thing to try first before doing manual frame by frame tracking.

You can see a video by adobe giving a quick overview of it here:

http://tv.adobe.com/embed/902/12454/