This is a great example of highlighting a city from a series of aerial views. I hope you can generate some cool ideas of how you can use your quadcopter to make a promo video of your home town. Just make sure you follow all the safety procedures and policies.
This article from Nextgov says that CNN will be allowed to use UAV's for video journalism. If the big media companies band together they should have the weight to steer the FAA into adopting reasonable rules governing the use of UAV's. Maybe your yearbook/journalism teacher might be interested in teaming up with you to purchase a quadcopter for your school!
Here is a White House petition regarding the use of small UAV's.
I found it after joining the United States Association of Unmanned Aerial Videographers.
"The mission of the United States Association of Unmanned Aerial Videographers (UAVUS) is to foster safe use of airways by unmanned aerial vehicles (UAVs) to create a vibrant economic opportunity by responsibly using UAVs for aerial imaging without violating or infringing on the safety and privacy rights of others."