The tough thing as madge pointed out is that you are constantly looking all over the place with a helmet cam. Probably less so with a distance event, and maybe less so if you try not to do it too much.
My video was the first time I used that camera, and almost all of the footage shown was shot in one day. It took an hour of footage to create a 6min video.
Advice on the Hero3: Bring lots of AA batteries. When the 2gb memory card is full the batteries have about had it. I think the 2gb card holds a half hour of footage. These aren't complaints its just they way it is. Better batteries, i.e. lithium ion might help a bit. I love the camera and GoPro has phenomenal customer service. I think I payed $120 for the camera and am completely happy with the quality of footage. The YouTube version isn't as good as it is saved on my HD but it still isn't bad. The quality isn't as good as what you would get out of spending $2k on a good HiDef camera, but I wouldn't take that on a beach cat anyway.