GoPro 2 is the only one i would have at this point. The improvements that were made over the GoPro 1 as far as image quality, menu navigation etc. are WAY worth it.
I agree with UndCon......get it with insurance so that you can have it replaced in case of a crash, scratched lens etc. The lenses on GoPros are not replaceable, one scratch to a lens RUINS the whole camera unfortunately. NEVER fly without that protected.....I know a lot of guys do, but if they crash and don't scratch their lens they are just very lucky. ;o)