Having just the relevant LIVE telemetry information [i.e. riders' GPS position on a map (no more guessing who is in/out of a group), speed, heart-rate, power .. etc] would be a very good start. The camera would be the icing on the cake. Camera technology has come a long way, these footage on Youtube illustrate the kind of views we will get.
[warning : you may want to turn down your volume control!!]
http://www.youtube.com/watch?v=Ygc-uJQRzHE&list=UUdN6jblySgv9zuZFu-maFGg&index=1&feature=plcp
This type of footage is of good enough quality to attract new fans. Just imagine this type of footage streamed live from some of the top riders during a classic race/stage - in an echelon; in a sprint-finish; in a chase group; during an attack; cause of crashes .. etc. It will TRANSFORM cycling to a new level of sport.
The technology is there readily available. It needs the UCI and the race-organisers to do the right thing. They can post all the information on a web-site LIVE. If you are listening to this UCI or ASO .. etc, a whole new world of advertisers will want to be on your web-site. Also, I, for one of many, will pay for the extra info. [Just don't ask for 100 euros each race!!!]
It will be a WHOLE NEW WORLD of professional cycling for everyone to enjoy.