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The camera movement latency is probably quite noticeable. With a brushless gimbal this could be greatly reduced. The 5.8 GHz video transmission setup is widely used for FPV flying, and its latency is negligible.

Video showing the reaction speed of brushless gimbals: http://youtu.be/Dr5CnIA52zY

Wireless 2.4ghz radio latency is measured in milliseconds which is quick enough not to notice. Latency also depends on how quick the gimbal servos are but that too may be quick enough.

Since the movement and change of speed of the copter isn't very fast you can apply time warp to this; or just make the camera film in 120 fps.

Perhaps, but it won't be long before omnidirectional arrays of cameras have all perspectives available even before you turn your head.