I just have to say, in my present frame of mind, that i only just finished reading about the vespa scooter, and I am laughing my head off
... I will finish reading what you have written now.. 
hehe.. ya. in my own defence, note that I also posted in this thread: http://www.arduino.cc/cgi-bin/yabb2/YaBB.pl?num=1280351090/15 My bad, I should have posted that same post in this thread as well. sigh. 
some more research has turned up this: http://www.edimaeg.com/camera.htm . seems to be a good description of what I want. however, no price is listed, the guy who mentions it on the rcuniverse site says the ups delivery fee was 100 us. and I can't see any contact info on the site.
so, my question becomes: if somebody (probably not me, I have too little such experience?) was to design an arduino 'ultra-mega' capable of doing this, is there enough demand out there to make it a worthwhile venture?
...
three (at least) concepts: processing power, memory, band-width.
where do things stand? ie, were we to compare these three properties of a 'normal arduino', uno, or mega, for example, how would they compare to the corresponding values necessary for this hypothetical system to work?
.. tried to get data from the edimaeg site into this post, but gave up. might try again later.
...according to these folks: Bandwidth estimation for wireless video transmission | IEEE Conference Publication | IEEE Xplore 100 - 500 kbps is required..
and the bandwidth of the arduino is:... http://www.arduino.cc/cgi-bin/yabb2/YaBB.pl?num=1262895738 .. unknown until the complexity of the program is known.
ok, now we are getting somewhere!: http://fpvpilot.com/default.aspx
and, fyi, I got the search term 'FPV' from here: FPV Camera and Goggle Video Resolution - HELP! - RCU Forums
ah! http://www.dpcav.com/xcart/product.php?productid=16480&cat=0&page=1&featured
seems like the prices start at ~200.. Cannot Find Product...Searching
ok. so, I think we have established that the market exists, and that I don't have to put a laptop in my glider. next question. and this next question dives right at the core principle of arduino.. : now that we know that the tech exists, and is relatively small, and relatively in-expensive, is there any motivation for develloping an arduino version of it? I think so, but if you were to ask me what my reasons were, at best I would take time to answer, at worst I would flounder. As I see it, there are two main motivations for open-source: 1) if something doesn't work quite the way you want it to, you can change it. 2) if something breaks, you can fix it yourself. 3) if you can do it yourself with in-expensive components that are available, and the total cost of these components is much lower than the price you would ordinarilly pay, you save money.
so.. the 'do it myself', or 'understand thuroughly how it was done, don't just buy it, plug, and play' part of me would like to see an arduino version of this tech. the pragmatic part asks the very resonable question, why bother when the system involved costs at most ~2x the cost of controlling 2 servos wirelessly with arduinos?