I've done a good bit with Adobe Premier using DSLR's. I've just gotten a GoPro2 and have only done a few things with it. Anyways, here's my pointers:
Stabilization is a huge deal. It's one of the big differences between amatuer amd pro video. In general, the wider the view angle the more tolerance you get towards to shakey cameras. But, even with the GoPro's it's there. And you'll notice the difference of stabilized footage versus non-stabilized footage. If mounting on a bike, you want to find the place with the least amount of vibration...which is why handlebar mount kind of sucks. I think the best place to mount to is in the middle of the frame on a FS bike...as it benefits the most from suspension...and has the weight of your body to help stabilize it.
Point of View is a big deal. Forget about framing the world from the physical perspective of your eyes. Your brain does huge amounts of spatial adjustment from where your eyes sit. Plus imagery that is compelling to watch offers a different perspective than we are used to. Someone above mentioned the chest mount..which is a good idea. Take a look at my crash video:
http://endless-sphere.com/forums/viewtopic.php?f=6&t=34291 At the end, as I pick the bike up you'll see the rig I was using: a monopod ziptied to the middle of the frame. The shot looks steady due to a couple of factors. One, it's rigidly mounted to a point that is dampened from vibration from the suspesnion and my weight. Two, it has a foreground element (the handlebars) that is moving with the camera. That gives the illusion of stabilization. And, the point of view (from your dick) is different than what you normally see...but still has a common reference point so you can associate it. You feel more like you're riding the bike than what you'de feel if I shot what my eyes were seeing.
Also, after the crash you see the external audio recorder. Audio is hugely important to video. That wreck is really nothing muted...but crank up the audio and you've got something funny. The GoPro audio sucks by design. If you have the GoPro2, you can plug in an external mic. Something like a Rode mini Shotgun with a deadcat style wind screen will work great. In the clip, I'm using a Zoom H4N with a Redhead windscreen (which is what I use for DSLR stuff.) And, Ive tried to place it with some wind deflection.
Now that clip is kind of boring because there's no edits (I was really just trying to show the crash.) When I edit, I typically get lots of footage, and cut it into interesting sub clips. Next, I'll drag a song I want to use as a soundtrack into the time line. From there I can get a visual sense of the beats of the song. Then I'll drag my subclips into the timeline...often adjusting the clip lengths to match the audio edit cues. Here's an example of some snowboarding stuff I"ve done which shows this style of editing:
http://vimeo.com/28627229
All of the shots there were done with a just a monopod for stabilization. The static shots the mono was jammed into the snow...and for the moving shots, either the GoPRo or the 7D was put on a monopod and handheld. Just a simple monopod can do wonders for stabilization.
The editing can be real fun as you watch your crappy footage turn into something entertaining. Good luck.
