the Hero and Contour products have really taken over the market. I would be afraid to deviate from either one of them and having used both, I can vouch that they both are really good products. Garmin just came out with a GPS enabled camera that looks pretty cool.
I also wouldn't really trust the "waterproof" nature of a camera like that without a waterproof case. It may be fine for floating around in the water but firehose spray from the bow of a catamaran is a different situation.