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You're right about mounting it on some dampeners. Right now the video is too shaky, but it flies well even with the gear on it. I'm trying to find a lighter FPV transmitter. Here is a work in progress of what I'm flying right now:

http://garagepilots.com/profiles/blogs/3d-printed-honeycomb-quad-w-fpv-mounts-for-camera-and-tx

I too would like GPS but haven't found a good solution yet. Thanks for the thoughts.