Wow, that's with a greater degree of mechanical simplicity than I thought possible. But this is exactly what I was talking about. Now if you can somehow reduce propeller drag at high horizontal speeds and also accomodate a payload and/or a larger battery and also handle adverse wind conditions, you'd have something really nice.
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There is an RC model called the Quad Shot that sounds similar to what you're describing. http://www.youtube.com/watch?v=IK_-yTrwNtU
Wow, that's with a greater degree of mechanical simplicity than I thought possible. But this is exactly what I was talking about. Now if you can somehow reduce propeller drag at high horizontal speeds and also accomodate a payload and/or a larger battery and also handle adverse wind conditions, you'd have something really nice.