I love my GoPro, I use it for a lot. We've been relying it a lot more lately for more family stuff and I wanted to use it on our tripod. It works just like it's suppose to do, however I should of upgrade to the removable tripod mount. It'll be easier to break down and store, but not a major problem. I won't return it, but if it breaks or gets lost i'm not going to lose sleep. If you have multiple tripods, this might better suit you then. However, I have one for multiple cameras. Adds an extra 30 seconds, but again...no biggie.
I ordered two of these and so far so good. since I take lots of time lapse photos, the tripod mount was a good option for me and my GoPro Hero3 Camera. Its worked like a charm so far, just sad that the camera didn't come with this part.