Without modifications, I think the Blade CX would be a marginal camera platform, at best. I've tried lifting light 1-2 oz things with it, and that always puts the 4-in-1 in the red (it has an indicator light which shows when the 4-in-1 is being overloaded).

Now, that said, I think if you removed the tail boom and body, you might save enough weight to be able to lift one of those little wireless spy-cam things without blowing your 4-in-1.

Altitude is also a factor; I live at 5000 feet above sea level. At sea level, you may have better luck lifting things.