Waypoints are definitely cool. IRIS looks a bit more expensive though but thanks for the link, I will check into it.
When looking at the Phantom last night I saw many upgrades for it. I really like the glasses you can get so you see what the camera sees. I would imagine that vastly improves your ability to take good video. Along with gimbals and other stabilizers.
http://phantomguide.com/fatshark-predator-v2-fpv-system-for-dji-phantom/
I also saw you can buy all the parts for the Phantom, in case you wreck it. Seemed like most parts were fairly cheap. Battery life seems short but hey you can buy a bunch of spare batteries. Hardcases for transport available too. Along with lot's of other upgrades or add ons. I also saw some websites where you can build your own video copter from scratch. That is pretty cool too!
I didn't find many action videos on youtube made using one of these Phantoms. The few I did find looked very cool. Where I live I can get some sweet footage, kayaking, rock climbing, snowboarding, river surfing and even off-roading. Within 30 minutes of my house we have great spots where all this stuff is enjoyed.
I got a bit burnt out on taking and making videos in the last few years. Seems like something like a Phantom would spark my interest again a lot. Not to mention I love gadgets, upgrading things and so forth. I build my own computers just for fun!
Cheers