As of this morning GoPro has announced and is taking orders for the new Hero 3 Camera System...

Here's the link...
GoPro Official Website: The World's Most Versatile Camera (http://gopro.com)

The Video showing on the top page was all shot with the new camera...

The Specs are very very nice... 720P 120 oh yea...

and the specs...

HERO3 Black Edition | Wi-Fi enabled | Most Advanced HD GoPro Ever (http://gopro.com/cameras/hd-hero3-black-edition#specs)

Rumors are now fact! Please post further discussion in the existing thread on the Micro / POV forum:

http://www.dvinfo.net/forum/new-micro-pov-camera-systems/511387-gopro-hd3-october.html