From the good BotJunkie blog: "The operation of the Point and Toss is literally that simple: you point it in the direction you want it to go, click a hand controller to lock the heading and start the engine, and then toss. The UAV automatically stabilizes itself, flies out for about half a mile at 250 feet taking pictures and video to an SD card, and then autonomously turns around and lands at your feet."
It's intended for military use, which means that when the manufacturer, IATech, describes it as "cheap", it probably means thousands of dollars. But I can think of lots of civilian uses, too. All of our UAVs can do this already, and I don't even think a RTL UAV like this would be export controlled, so we could easily produce one--simple, single-purpose and ready to fly out of the box. What say we make an open source one for $250? (And then some toy company can make it for $99!)