Another good thing about Go Pros are that they and waterproof with the housing that comes with the camera. I use them for fly fishing and showing the fish releases underwater too. You do see a lot of Go Pros being used on TV these days but mostly on tight closeup shots. They come with that wide angle lens fish eye look and they can mount to just about anything. They kind of lack in showing any distance shots. Even though they come in HD, they don't have the best lens or filming quality. For those other shots that one perhaps might want I use an additional Sony HD Handycam but there are a lot of options.
I agree Campbell cameras,
http://www.campbellcameras.com/ is a good resource for guys that want to film their own outings and or get some ideas on what application or level they want to get into. The equipment and technology is getting better and better each day so even the new lower end medium level cameras coming out do a pretty good job at capturing the events.
I work at Apple Inc. so I use a Mac and their film editing software, Final Cut Pro and iMovie. I think it works well for me and it is pretty user friendly but I'm kind of biased not have tried anything else out there. I've worked at Apple now since 1987 so I'm not much good on a PC.
The film editing game is whole another part of the equation. Transitions, effects, sound, color correction, ect... For me that part is real fun. It all starts in getting the shots on camera though.