Yes, 2.4ghz control, 5.8ghz video. Not sure of the power on either.
I know Alishanmo is going to be selling these directly, and it looks like there's a US dealer now at http://www.spyhawkfpv.com/
Here's Alishanmo's tutorial on how to fly it FPV:
And here's one of SpyHawkFPV's videos:
It's kind of cool that the same camera both sends the standard def video signal and records 720p HD. HD video looks comparable to a #11 keychain cam.