I have been running GoPro since version1, still on version 2 as I haven't upgraded yet. main use was on my Lotus 7 for filming out adventures in the car.
My advise don't bother with the LCD BacPac I have one and never use it wast of time really, with the GoPro 3 you can use your phone to see what your filming just turn the WIFI off once you have the shot lined up, to be honest though you can line everything up by eye and it gets easier to do the more you use it, in 3 years of use I have never filmed rubbish by having the camera pointing the wrong way.
I'd also use 720p 25fps as it won't use as much batterie as 1080p and will last longer although the battire life on the 3's is the reason I haven't upgraded. If it was me I would spend money on mounting options like a extension pole/wand, head mount and the Motorsport suction cup which I use the most, get a good tether system made too so you don't lose the camera if it manages to fall off.
For editing I just use Windows Movie maker as I'm not into big flash movies and find the big movie editing programs very time consuming and zap hours away from your life
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Hotdognz
Red JKU, AEV Front & Rear Bar, AEV 2.5 XT Lift.
TJM Winch, Sharpwrax Super Spoiler.