Tiny wireless video camera watches and waits—for 45 minutes
At $270, it's very expensive—and it doesn't record audio, either—but given that it's waterproof and less than a square inch in size, I expect those with an application already in mind won't mind the tag.
RC-12 Wireless Mini Video Camera [Kilian Nakamura via Oh Gizmo! and Ubergizmo]

the latest
latest episodes

I wouldn't want to see the baud rate on that hypothetical morse code receiver :)
It's just a normal wireless video receiver by a manufacturer called Morse - see e.g. http://www.rfamerica.com/product/dentalmed/accessory/morse.html
Ahah! Thanks for the correction.
Hmmm, that's 270 000 pixels (VGA), not 2.7 megapixels. And, forgive me, if you don't post at least a link to a sample video made with this thing, you're just giving away free advertising space, no?
"And, forgive me, if you don't post at least a link to a sample video made with this thing, you're just giving away free advertising space, no?"
No.
That said, I might not have been sufficiently cynical and dismissive in my post: I shall now correct this error.
Based on its tiny chassis, rudimentary optics, gimmicky character and arse-end image sensor, this camera almost certainly produces complete garbage.
Small, compact, wireless, waterproof. Why isn't it more rounded? ;)
Gross.
...and it needs some sort of illuminator as well ;)
well, now that we know this is shit... can someone please point me in the direction of a small, lightweight, wireless camera that i can affix to a rc airplane -- oh yes.
Check your toilets ladies.
It's bigger than the one mentioned above, but this camera is a heck of a lot more affordable, and has decent image quality, too.
[I have no affiliation with the store, I'm just a satisfied customer who was impressed with the camera]
Any idea as to what water depth can this camera be used at if used underwater like in a swimming pool(Specs only mention its waterproof and can be used underwater). I m wondering as to what would be the depth reached by this camera as radio waves are greatly absorbed by fresh water !!