hey geordi,
i would be curious to see what you come up with once you run some testing with the ipad. the develloper of the app says that there is a 1/100th of a second latency with the wi-fi processing (wich would be less than approx 1/3 of a frame). i m sure that you could use senheiser packs (g2, g3) and send it to a simple (and free) ambient ltc reader app on a ipad, and even an extra reciever on the camera to feed in tc. but that creates more batteries to check/change etc... but now since sound devices released the cl wifi thing it is most definetly changing the picture (at least for sound devices 788 users). and hopefully we will see apps like movieslate becoming compatible with it. it would be, in my humble opinion, the best way to go..
i agree with other comments about visibility issues with the ipad and for durability, i m sure that if you protect it smartly, it s doable. and extra power plugins things are outhere too for long days. also, as anyone ever heard of a simple LED ltc timecode display that you could plug into a ipod for sale anywhere? i know there bunch of ''how to'' about it on youtube but i have yet to venture into making one... looks like it s a diy case for now..