I actually think the Replay is better in this video...but keep in mind this is the GoPro 2. The GoPro 3 is definitely better than the GoPro 2.
I am aware of this, but still think the size advantages of the Replay outweigh the image quality differences. Also the replay's 6+ hour extended battery pack solution is FAR superior to GoPro and KEY to capturing long flights and not missing the key moments.
I am halfway to posting a complete video of a task in this Falls 2012 R4N in Fairfield PA on Youtube for the fun of it. The entire flying day was captured on both camera's and each camera still had 2-3 hours of battery life remaining. The best a GoPro has ever done for me even with an extended pack is 2.2 hours.
This is all just my opinion of course...I don't really think there are wrong answers here...its all about having fun and sharing our experiences with friends. Enjoy!
Video links he
https://www.youtube.com/watch?v=hMaTY1JtKEo