Firstly colour cameras are not very good in low light and to be honest I dont think a street light is enough. You need one of those security lights that comes on when someone walks past it and point it in the direction the camera is facing.
Secondly you are not going to sit there all night watching the screen and zooming in. Most of the stuff on mine happens between 1 and 3 am. I bought a wireless black and white camera and connected it in the house to a seperate VCR dedicated to the camera with a pack of 4 hour tapes. On long play each tape covers 8 hours and I tend to just record from 8pm to 4am with a tape for each day plus a couple for filming during the day at weekends when kids are playing in the street.
I may upgrade to a more expensive camera next year as mine tends to over expose faces when the security light is shining on them. With the police being so hopeless I am thinking about somehow getting my car on the garden and building a fence/gate around it. Only way to keep the chavs at bay.
You can see some pics from my camera here:
http://www.garywoodruff.pwp.blueyonder.co.uk/http://www.garywoodruff.pwp.blueyonder.co.uk/
A lot of quality has been lost in capturing. It looks a lot better when you play it on TV. Id say its twice as clear on TV but you get the basic idea about the faces turning into a white blob in the light. A better camera will fix it.
Ive got loads more vids that I havent captured like the chavs kicking the window through on a Fiesta, neighbours fighting (the camera has a very sensitive mic too) and chavs turning off my cat scarer.