Replying to Which GoPro?

I intend to use it mostly with a chest mount POV, but would also like to use it as a follow cam at times. My goal is to make edits for my own creative outlet (I'm also a total beginner), but it would be nice for the quality to be somewhat decent. With the new entry Hero for only $130, I figured this would be the way to go, but would I be limited with the specs? Would it be worth the extra $170 for the hero 3+? How much will I notice the 720p at 30fps vs 60fps? I understand the entry level one is really inexpensive as far as action cameras go, but I'd rather not dish out $130 just to say "this sucks. oh well, it was cheap."