How about an OSD module with Object tracking? Unfortunately there is no open source product so far.

Long Ago Chris introduced us with ADEPT 3000 (Specs Sheet)

(http://www.diydrones.com/profiles/blogs/ges-new-adept-3000-miniature)

a miniature video tracker for mini UAV's from a defense product manufacturer GE

Here is a video providing a closer look to product and apparently manufacturer has plans to introduce it in commercial market ( If i got it right )

Check its video here

http://www.engineeringtv.com/video/GE-Miniaturizes-Video-Tracking

I was looking for a light weight good quality camera for Quadrotor FPV and came up with this solution from china got immediate  reply from sales it is just 120$(sensor board+wifi+lens) 

Complete accessories and price list is here ipcam.PDF

And product is listed at

http://sz-going.en.alibaba.com/product/663818610-213093769/5_megapixel_cctv_camera_module_ip_digital.html?edm_src=sys&edm_type=fdbk&edm_grp=0&edm_cta=read_msg&edm_time=realtime&edm_ver=e

Never purchased anything from china before so little bit scared for loosing my money However if this device really have all these specs then it is a great replacement for costly Go-Pro,What do you say???

Anyone used this module with APM2 ??? 


Flyport open source WiFi module

http://www.openpicus.com/site/technology/overview