I have been using the Garmin version of the GoPro as my hiking camera for almost a year now. I use it for still photos and video.
I have found a few tricks that help:
1) I use the narrowest/most zoomed setting instead of the wide angle. In reality, this just means that the camera chops off the edges of the standard ultra-wide angle lens. This means that the worst of the fish-eye geometric distortion is chopped off. What remains is not usually very noticeable for hking snapshots.
2) On the Garmin, this narrow field of view automatically turns off the image stabilization, which I would turn off any way. It’s really annoying.
3) I limit the use of moving video as it is simply nausea inducing in anything but small doses. Little bits here and there with the camera mounted on a hiking pole, usually when walking up to a viewpoint or something like that.
4) I use a lot of stills that get panned or zoomed in the video editing software. I use some video pans, although I’ve learned to keep them short and slow.
5) The thing I like is that I hike with the camera mounted on a shoulder strap or on my hiking pole. I have a remote control hanging on the sternum strap of my backpack, so I can snap a still or a video any time without having to fish for the camera.
Here’s a link to a full-rez photo from the VIRB.
VIRB full rez still photo
It’s not quite as good a Nikon point and shoot, but it’s acceptable for travel snapshots. Biggest quality faults are no flash option, no exposure compensation, and unpredictable color balance.
Here are my three favorite hiking videos I made from last year. You can go to full screen/hi-def in Youtube to see them in high resolution (although YouTube does degrade video quality a bit). Still, I’ve been happy with the results for my purposes:
Acadia National Park video
Mt Eisenhower video
Franconia Ridge video
Battery life? The Garmin uses field replaceable rechargeable Lithium ion battery. It’s good for about 3 hours of hiking with continuous GPS tracking (it geotags all photos and can superimpose a track on the video) and intermittent still and video. I swap batteries at about the three hour mark when it beeps. I could go longer if i shut the camera off, but then I lose the nice feature of having it instantly available. The batteries are the same as the lithium ion batteries in my handheld GPS, so a spare could be used in either and recharged in either.
Overall, I think having the video option makes these action cams a good choice for general purpose hiking snapshots. They would not suffice for “fine photography”. But, I don’t bother carrying the point and shoot anymore.