Re: GoPro or Point & Shoot
I would go with the point and shoot unless you are trying to get into HD videos.
My brother and I do a lot of videos and we use a Canon 60D and 5D MII that can do both pictures and videos VERY well, but it's very specialized gear.
Here are some points to consider (in completely random order)
-Sound will be terrible on either option unless you get all into the mics and such, but that's another story.
-POV shots and videos will require a special mount in either case.
-Number of applications for either devices; will you grab the gopro for a quick pic or the point and shoot?
-point and shoots typically have a view screen and can review and delete on the spot.
-battery life and replacement/spares.
Just some things to consider. Given your two options, my suggestion would be the Nikon or Olympus.