I have not skydived with the Contour HD, but have used one. It's nearly as poor as the GoProHD is. It's MP4, not AVCHD, and therefore doesn't have the compression advantages nor the higher bitrate. In other words, it's not in the same game as the CX100. Decent cam for messing around and even being somewhat serious about what you're doing if you don't need to show it on an HD display. FAR too many people in the world put too much emphasis on pixels alone. That's only one fourth the discussion.
I have the 720P version, and I have had good experiences with this camera.
I think the quality is pretty good, although I wouldn't use this to make money. it is great for what I think it is intended for- a great debrief tool-especially for freeflying.
Keep in mind that the file format is H.264, so it works great on newer Macs. -I have seen it played on windows machines(even newer ones), and the video seemed a little jerky.
It's small, light, and pretty foolproof. I have put about 100 jumps on mine this summer, and people are constantly commenting on the quality of the video (better than anyone expects). The lens is perfect for freeflying- it has a very wide angle. I am not sure what the 35mm equiv is, but I think contour is claiming 135 degrees field of view.
Do not completely trust the mounts that come with it- augment with a strap, and/ or gaffer's tape. The mounts that come with the camera are a good starting point, but there is play in the linkage. I just use a velcro strap to eliminate any movement or oscillation of the camera.
To keep it clear; h.264 is mpeg 4 part ten, or "mpeg 4." Same thing by two names. MPEG 4 is the base technology behind AVCHD but there are significant differences in how the compression is applied. PC's play mp4 every bit as well (or better) than Apple simply due to the fact that the newer machines have decoders on the CPU (both for PC and newer Macs). IMO, mp4 @720p is the best delivery mechanism for the web right now.
I'd love to see some raw footage aswell -judging from the video's I've ssen of this vs the GoPro HD on the net - the GoPro seems to perform slightly better - I haven't seen any real skydiving footage though which is really all that matters