I currently have Ubuntu 12.04 installed on the PandaBoard, but I've been having some trouble installing the OMAP 4 addons (is this is even necessary?), so it could change if I find a better OS.
I'm planning to use the IP Axis camera that came in the kit, but I also have a typical webcam to use as a backup if necessary. I wouldn't need to hack either of those, would I?
And I guess that part about the code being on the PandaBoard was pretty stupid

I'm new to using co-processors.