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sir ROWDY said..
I've got to add it really depends what you want the camera for. If it's for swimming around in the water or mounting on your lines then it's probably the best cheapest option for you. However, if you plan on doing absolutely anything else there's cameras that cost less and will yield a far better end result.
Out of interest, what are you recommending as a better option for 'doing everything else'? I use the Gopro for Kiting,SUP's, snow boarding, mounting biking, time lapse etc, and shortly i hope to get a drone. The only thing I feel that is missing is some form of zoom.
The Cineform soft wear is pretty good for any entry level editing and the compression works fine with third party editing programs if you need to step the editing up a level.
I really like the option to use the GoPro app to view the footage straight away and wireless transfer to my iPad,phone or lap top for editing.
For me the package works but always keen to hear if there is a better option out there