WiFi webcam for bike security?

I've been thinking about a way of increasing bike security when needing to lock a bike up at a store, restaurant, restroom, and so on:

Webcams can today be bought with an integral WiFi "transmitter". What if one of these cameras were to be mounted on the bike somewhere, and configured to send the live video feed via WiFi to an iPod Touch, iPhone, Android phone, or other such device? The rider could keep glancing at the video feed to see if anyone is messing with her bike.

Where should the camera be mounted? On the handlebars looking back at the face of a potential rider? On the rear (or front) rack positioned to have most of the bike in the camera image? Under the saddle looking down (the bike I'd use this can only be locked up near the bottom bracket)? Attached to the U-lock so it can be easily stowed in bag when not in use, and have the image get jostled if the lock is being messed with? On the front fork as if it's a speed sensor, and looking back up at a possible rider?

I would be worried that the camera would get stolen before the bike. Most quick thefts are stuff that's attached to the bike- computers, GPS, cellphones.

I would think that something like this would work best if your bike was on a bike rack on the car or in the back of a pickup. You could mount it inside the vehicle and point it at the bikes. I often times stop to get a bite after a ride, and lock up the bike in the back of the truck, which has a shell, but I worry anyway. It would only take a minute to pop the shell open despite the lock, and some long cable cutters would make quick work of the heavy duty 12ft cable snaking around the frame and wheels. So I only go to places where I can see the truck through the windows. If I could keep an eye on it with my phone it would give me greater flexibility in parking and food choices. Problem is, the signal strength would need to be great enough for me to pick it up inside a commercial building, and I would need to be able to get out there quick- to confront a guy with heavy cable cutters in his hands, with my cell phone.

Think I will stick to parking where I can see it, and maybe carry some pepper spray... Really haven't thought that part through... If I were with friends we would have strength in numbers but I also like to ride alone. Guess that is the ultimate question. What to DO when you see someone jacking your bike.

So...if you had a camera on your bike, and the bike got lifted, then what? Run down and confront a thief, who is presumably armed with a large heavy cutting tool?? Be out both a bike AND a web camera?

At work, folks park in a garage with video surveillance. A woman actually had pictures from those cameras of her bike being stolen and ridden out of the garage that she presented to police. They still couldn't/didn't do anything about it.