There are a couple of new quadcopter frames out there that I think look pretty cool! One is the “watertight” Project X Aquacopter and the other is the prop shielded Safeflight Quadcopter. They are sold by two different unrelated companies and the links above go to their respective websites.
As you can see in the video below, the motors are still exposed to water on the Aquacopter, but it appears the motor wires are run through a hole and sealed off with some material. I don’t know what problems that could cause, but it is worth considering. It is certainly a huge improvement over totally unprotected flights over water.
Here is a video of the Aquacopter in action:
Here is a video of the Safeflight: