To turn a regular flying RC vehicle into a drone you need an autopilot system and telemetry. The top system right now is the Ardupilot from DIY Drones.
Their are two main parts to the system, and although they can be purchased separately from different places I've decided to go for the all-in-one option. This choice was largely driven by the insanely good level of support you can get on the DIY Drones forums.
Autopilot + Telemetry: Ardupilot APM 2.5+ with 915Mhz telemetry x 1
On-Screen Display: MinimOSD v1.1 x 1*
*You only need one OSD board to display telemetry data. I've listed it on the FPV parts page as well because it is the linkage between your telemetry data and your video.
