Now for my more helpful post
I'll list some pluses and negatives
Wider lense capture
can NOT shoot 1080p
can take pictures
can hold up to 32gb with a card
60fps at 720
CAN shoot 1080p
doesn't say it can take pictures from what i see
(a full HD movie is around 8gb)
Actually, the GoPro HD does 1080p @30fps and 720p @60fps, same as the ContourHD. The most obvious difference is, as you mentioned, the wider field of view on the GoPro (170 degrees vs 135 degrees at 720p, and 127 degrees vs 110 degrees at 1080p). Both also support up to 32GB cards, but the Contour comes with a 2GB card where to GoPro doesn't include a card at all. Also, a minor difference, but the Contour takes micro SD cards and the GoPro takes full size SD. The Contour has lasers to align the shot which the GoPro does not, but the GoPro comes in a case that is waterproof to 60 meters, where the Contour is just water resistant and requires a separately purchased waterproof case to be submersible to 30 meters. Also, as mentioned, the GoPro does stills where the Contour does not. The Contour does have a nicer helmet form factor, but I think the GoPro has a few more accessories available. Most seem to agree the GoPro has better color saturation, but this is software correctable for either.
I really don't think you can go wrong with either, it is just a matter of which features you value more. That said, I only have the GoPro, but my deciding factor was the ability to use the GoPro for SCUBA diving also right out of the box. At the time I looked, I found the GoPro HD for about $50 less than the ContourHD also ($230 vs $280).