Trey, a TI employee, as well as a 43oh member, is close to getting his low cost quadcopter BoosterPack ready. If you have not yet seen his previous quadrotor, based on the the C2000 Launchpad, it is pretty neat with the PCB itself acting as a frame and a port to plugin your Launchpad. This design helps save weight as well as fabrication costs. We met him at last year's Maker Faire as well as this year at SxSw and he was very enthusiastic about the project.
Trey's aim is to get the cost of the full package - frame, motors, ESC's, propellers as well as the radio around the $200 range which is a very reasonable price, not forgetting the hackability of such a system.
Personally, I would like to see this manufactured and sold, but before I invest the effort to do that I need to ensure there is a demand for such a board. The finished quad will be about 1 square foot in size, will cost ~$200, and will be able to carry a small payload (I've got my fingers crossed we'll have enough thrust for a Go Pro).
Below is a video showing the earlier version of the C2000 quadcopter.
If you are interested in getting one or helping Trey develop one, head on to the 43oh forums and cast your vote. If the full package was available for $200, would you buy it?