My recommendation for a camera would be a ContourHD, and then get an independent mic to get your sound. The GoPro is a good unit, but I personally don't like that wacky make-the-earth-look-like-it's-half-a-mile-across lens. And if I recall correctly, you either have to buy the standard GoPro or get the full-on mega 1080p monster camera of death. They also tend to look a little goofy compared with the sleek ContourHD. With the Contour, you can get a much cheaper 720p option, or go all the way to 1080p. I don't know how much an independent mic would cost, but it's something to consider. I haven't done any riding with my 720p ContourHD, so I can't say just how bad the audio is (I know it's WAY better than the original VholdR). We'll just have to see.
Correct me if I'm wrong, but I believe the video above was filmed with a VIO POV.1, which is very nice in that you have a preview screen and all that, but there is a cable to deal with, and they're extremely expensive given that the ContourHD is half the price and twice the resolution.