The Gopro Hero is great for situations where the camera needs to be attached to something and is going to be subject to shock. Lots of third party mounts for this camera to attach it to a helmet, boat, bicycle, etc.
I only need a P&S with video for fishing and kayak use that is waterproof if dunked. For that I use a Nikon Coolpix AW120 16MP camera that is waterproof to 59 feet and has excellent output, though only in JPEG format. It has a zoom equivalent to a full frame camera with a 24-120mm lens. It is not a great P&S camera but it is the best waterproof P&S camera that I could find at this time. If one becomes available with comparable capabilities and the RAW capture I will probably replace it.