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I teach high school broadcast and video production.
If you are shooting a movie or short film, having two cameras helps a bit because you can cover two different angles of the same performance at the same time... line them up and sync them in a nle, and then edit and cut back and forth however you want and it is the SAME performance so continuity will be correct. It also can be a little overwhelming to some people to have to deal with the extra footage but I shoot with up to 3 cameras rolling at the same time (not always... many times only one) and I love it when I choose to do it because it gives me amazing flexibility in the editing room - but you do have to learn about choosing angles, not crossing the 180 degree line during cutting - only with actual camera movement... and ect.. and these things just take experience honestly and you playing with it and through trying to make some films and going to yourself.... "hmmmm.. well THAT cut works.... yet THIS cut does not and feels funky and just wrong...." the difference between really experienced filmmakers and audience is that BOTH of them will know bad cuts when they see it, but filmmakers will know exactly WHY it didn't work and be able to express and articulate why to you in clear terms, where the audience will just know it didn't feel right and they didn't like it and it threw off their groove.
Vimeo has a very excellent series up now on all this stuff that is very helpful to budding filmmakers:
Here is the 180 degree rule explained, and there are many more great tutorials:
http://vimeo.com/videoschool/lesson/52/180-degree-rule-explained
You can apparently still get brand new hackable GH1's on eBay, for dirt cheap.