I just got the white version ($199) and haven't had any issues at all. Even put the head strap on my 2year old this past weekend while we were in the pool! Battery life really sucks for timelapse, but it's been working great for video. I did get a spare battery for $20 just in case. The photo quality isn't great, but that's what I have a DSLR for.
Out of the 15 or so I know with a gopro, none have had any issues (silver, white and older versions) and absolutely love the product.
Watch carefully at the next automotive show you watch. You'll catch gopro's stuck to everything. TopGear, Fast N Loud, you name it, all the car action is done with a GoPro...and probably the Black edition. Nothing is infallible, but I question some of those negative reviews.
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