I don't think I have ever flown a model rocket in my life and I'm glad I waited, because the technology has definitely improved with the cool new Estes Astrovision - Digital Video Rocket. This unique ready to fly model rocket has a built-in impact-resistant digital camera in the nose cone pointed towards Earth that can record 12 seconds of video at 640 x 480 pixel resolution or take three still pictures during flight from as high as 500 feet. After a successful flight, the video can then be dowloaded straight to your computer with the included USB cable. You'll definitely be seeing a ton of these videos on YouTube in the near future.
Estes Astrovision - Digital Video Rocket