Get the 1.5. Has the wide angle lens, updated firmware for increased storage capacity. Also has better mounting pieces for the helmet and stuff. My buddy has the pov1 and the quality is great. Plus no other camera has the tag ability which imo is the best reason to get it.
With the POV you can loop the recording so it continues to record over itself when until you hit the tag and then it will save the segment based on the time block you preset, say 2min it grabs the 2min of footage. That way if you do something worth keeping after you did it you can still tag it and it will save it.
Works great, no messing with reaching up on the helmet to start and stop recording, just have the tag remote on the handlebars and you are set while riding.