Micro FPV

CAMERA - CM205 5.8 GHz Camera (Banggood, $21)

http://www.banggood.com/CM205-5_8G-FPV-Wireless-Mini-CMOS-Camera-p-88782.html

5v nominal voltage but has a regulator in the barrel plug which will accept 1S (3.7v) voltages.

RECEIVER - RC805 5.8 GHz Receiver (Banggood, $19)

http://www.banggood.com/FPV-5_8G-8CH-200mW-AV-Wireless-Receiver-RC805-p-73202.html

Shipping from China took 13 days. It comes with a JST plug, takes 7-12v 

Goggles - Quanum DIY FPV - $30

http://www.hobbyking.com/hobbyking/store/__53706__Quanum_DIY_FPV_Goggle_Set_with_Monitor_KIT_.html

Also takes 7-12v. Also comes with a JST adapter (not shown)

JST Connectors - $3.99

You will need these to make power harnesses 

PUTTING IT ALL TOGETHER

The receiver and the goggles can be powered by a 2S LiPo using a JST Y-harness. For testing I used a 12V 1A wall wart with a JST connector soldered on.

The camera will run off of a 1s LiPo (3.7v) just fine. DO NOT CUT OFF THE BARREL CONNECTOR! Inside the barrel connector housing is a voltage regulator which you need (the LiPo voltage will vary depending on charge level). Instead carefully cut off the black plastic housing, you will find a circuit board embedded in white plastic. Cutting away at the plastic near the tip of the circuit board near the barrel will reveal the solder pads. Desolder the barrel connector, solder on a JST or whatever connector you desire.

Useful thread for the video camera: http://www.rcgroups.com/forums/showthread.php?t=2291466

Then you can make another Y-harness so that a single 1S LiPo can power both the camera and your vehicle.

Here's my assembly video and initial performance:

TOTAL COST

$73 

STATUS

I have all the harnesses built but I haven't assembled the headset - will update when complete. Then the harnesses need to be trimmed and things mounted, etc. etc. etc. 

RESULTS

Here's a preliminary video. Note that I've done nothing to optimize the system - its using the 1/2" antenna stub, the receiver is using the stock antenna (you really want an omnidirectional antenna) and the receiver/transmitter are sitting on my kitchen table while I'm flying in the backyard. After a false start ( dead battery ) you can see flight video starting at 1:38. Note that I crashed in the neighbor's yard on a tin roof which causes loss of signal.