Probably not. Neither will it record the sounds of your skidding to a stop to avoid my dust cloud in which I am hiding!
That Nikon seems a nifty unit, waterproof, screen for aiming and would also fit the bill. Not sure how good a GPS function would be as it only seems to read like 1 spot per second in movie mode. At speed you would travel a long way before the next GPS data point is recorded. The Contour seems to record GPS as 5 spots a second so that may be better if you want to create a track map instead of a piece of abstract art.
I will give the Go Pro unit a little try out against the HD POV camera I have at this weekends LEO drive (hopefully no more snow!). Personally I am a fan of the POV unit as it is one button operation to record and has a nifty little wireless remote to wrap around your wrist. Despite this it still took me a day to work out how to record!