I had this problem for a couple of years!!! I tried all the usual stuff recommended by Apple and info from a bunch of different forums. Here's what I did to finally solve this problem:
Open the Console app, click All messages on the left-hand side, and clear all messages. Open iChat and attempt to access the camera from within the app. You should see some error messages indicating that you have a problem with one of the drivers. In my case, it was the wrong version of a driver that got installed by some other application's installer, or something ike that. Unfortunately, I don't remember the exact name of the driver. I then used Pacifist app to re-install the driver from a clean installation disk. Viola! All the issues went away!!!
Not sure why I didn't think to use Console app to diagnose the problem when it first started.... Anyway, hope this helps some fix the problem.