Ja, the H.264 compression format is a bit lossy, and it does suffer a bit in the dark with noise/ grain (although again the new one's supposed to be better), but it does great for what it's designed for. Not technically broadcast quality, but combined with a body of broadcast footage as a cut-away camera, it's more than adequate. I know Fifth Gear are using it, as well as Ignition, and I, along with another company are hopefully covering the Mykonos Challenge Yatch Race (from CT to Langebaan) again this next year and we will be looking at aquiring a couple more of these to place on the boats to get some awesome footage.
The attachments are a bit wobbly, but the case has a universal fitting, so we can use it with our existing grips. I was doing a "Behind The Scenes" video on an ad shoot a couple months ago and decided to use the GoPro for some interesting walk-about shots using a little pole-grip we made up and the whole camera crew wanted to know more about this little thing...Such a cool gismo!