I made the mistake of buying a cheaper lower res camera for about $100 (ATC2K). Then I saw the quality of my mates Go-Pro videos and I was gobsmacked (and jealous).
It looks good because it's hi-res and wide-angle. Hi-res makes it clear, but the wide angle reduces the bumpiness because the camera is displaying a wider field of view, so slight jolts in the camera don't affect the overall picture so much.
I think it's the best around, and when I get a new cam, it'll be a go pro.
There are minor downsides: The wde-angle makes it look like you're riding on the top of a hemisphere all the time. it' makes it appear as though the world in front and to the side of the observer is sloping away and downwards. It makes the trail seem wider and the trees sparser than they really are. And it flattens out hills. So if you're filming a descent or an ascent, it doesn't appear as steep as it really is.
But I think they're minor drawbacks. Hi-Def and wide-angle is the way to go. We live in a beautiful part of the world, and we really should film it more.