THe GoPro or contour is useful for that particular type of “POV” video, butif you watch any really good videos (Biser Lukich (sp?), Coleman Weimer, ) or , they’re using DSLR. You can get a previous gen Nikon or Canon used for a couple hundred, a touch more than a basic GoPro.
If the Contour is really only $100, I would start there and then add a DSLR with video capability (the Canon T3i is a popular choice and it’s the one I use!). If you start with the DSLR instead, you can always find a way to do top-down. Here are a couple quick vids I made for people who asked for them: