I've only had one failure of my knockoff, and it was because (as I learned by later reading the instructions - derp) I had put in too large of a memory card, which caused the camera to start loop recording by default. Oh...and I guess battery life is pretty terrible, but wasabi batteries to the rescue. I dont know how long a gopro battery lasts when run continuously.
My main point to my above statement was that gopro is having business issues, so does one want to purchase a high end product from a faltering company?
I've heard good things about Sony's action cams, but no personal experience with those either. They're also in GoPro's price point.