I have been watching this company for years. They have a video system now that allows you to use an iphone to record a 360 degree scene all at once. You can then post it and view it like you are there. change the view angle as it is playing. It is small enough to be able to use it like a self contained payload. Couple this with the upcoming occulus rift headgear and would really be something.
A couple of things.
I am not sure the resolution as compared to a go pro.
You would have to encapsulate it somehow but that would degrade the quality I would think.