I work in a university aviation program where discussion of new drone regulations has been front and center. i would encourage everyone here who owns a drone to visit http://knowbeforeyoufly.org and read up on drone regulations. In a nutshell, recreational users must stay below 400', stay at least 5NM away from the nearest airport, and operate it within line of sight at all times. You are also required to register all drones between .55 and 55 pounds before operating them.