This basic FPV setup costs about £100 and includes camera with wide angle lens, video transmitter, video receiver, circular polarised antennas and DIY eco goggles. This setup should be good for short range FPV with a range of about 1-3km. (A lot further than your competent observer will be able to see).
The backpack is powered from your models 3s LiPo balance plug so is easily added/removed from your favourite model with no modification required to your existing wiring, I even added a LiPo alarm so I know when it's time to land. There is only 3 wires (+ve, ground and video) connecting the camera to the video transmitter and if you buy the $4.50 cable then there is no soldering required.
The eco goggles can also be assembled with no soldering using the supplied leads. (I've soldered mine up for compactness). The goggles are powered from a 3s battery, I used an old 900mah 3s and after nearly 2 hours flying it was still holding about 50% of its charge. I have a $350 pair of dedicated FPV goggles and I found the eco goggles to be almost as good. The only downside is they eco goggles aren't going to win any rewards for style. I also added a £7 pair of ski goggles to my eco goggles for a comfortable fit and it allows me to wear my regular glasses.
The 600TVL PZ0420 with a 2.8mm lens is an excellent FPV camera. It supports wide dynamic range which digitally brightens the dark parts of image when flying towards the sun, ensuring the ground is always in view (BTW, this needs to be enabled in the camera menu). The wide angle lens really helps with the immersive feel of being in the aircraft and for avoiding obstacles.
Flying FPV is a lot easier that flying line of sight. There is no orientation issues and it's a lot of fun. So for less than the price of your next model why not give FPV a go?
As always anyone looking help or advice setting up their FPV gear, feel free to give me a shout and I'll be glad to help. Also if you would like to try my FPV backpack out don't be afraid to ask.
P.S. If you would like to be able to record your FPV flights in High Def, replace the PZ0420 with a Mobius camera from eBay (~£42)