When attempting to choose what GoPro cam is right for you, be sure to keep these three aspects into consideration. Is the price right for you? Are the features necessary for your activities? Which mounts/accessories do you need for the conditions/environment/sports you will be partaking in? Be sure to post some videos you guys take, we're always interested in your uses of GoPro cams!
GoPro cameras are great for hands-free, point-of-view recording — but that doesn’t mean they can replace a camcorder or larger DSLR or mirrorless camera. For advanced users, a GoPro’s lack of fully manual control may be problematic (you can set exposure compensation using the Protune feature, but you have no direct control over aperture and shutter speed). The lack of buttons and dials also means you’ll have to rely on the touchscreen or your smartphone to make changes, which is fine for set-it-and-forget-it adventure filming, but isn’t great if you need to make adjustments on the fly.
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The reason I ask what you will be using it for is to determine which set of features you need. If you're going to be using it for simpler activities, don't go all out for a Black edition with a 60fps, 1080p cam (all HERO3's are 1080p, anyways). The reason the Black Edition is so expensive is because of the crazy quality it has, and if you're using it for a more simple basis I wouldn't worry about the difference. The Silver or even White is perfectly fine for you. The main difference between these two is the white's camera has a 5 megapixels with 3fps burst while the silver is 11 megapixels with a 10 fps burst -- is that worth $100 to you?