I believe in reasonable, non discriminatory regulations. There are times when Corporate Personhood can favor us in this scenario, too. A lot of activities are seen as "restricted to businesses only", however, as they are a legal person, and you are a person, they cannot have rights that you do not have.
That being said, any regulation should allow an individual to engage in the same activities as a corporation would enjoy with a drone. I think that the regulations should be simple. If flying over private property which is not yours, or without permission, the vehicle may not fly within 150 feet of a structure. If flying over private property, video footage captured over the private property should not be retransmitted, sold, or stored for any duration of time, unless a crash occurs. If flying over public or private property, an independently-tested system should detect the altitude of the vehicle and whether or not it is in free fall. If it is detected to be in free fall, and the altitude conditions warrant it, the system should deploy a parachute which is rated for the weight of the vehicle. Such systems should have an independent power and sensor source. Think of something about the size of a hotdog on the side of the vehicle. This should reduce injuries and property damage, and such systems could be made and sold as individual units that could be fitted on existing vehicles. Again, they would only be required if flying over private property without permission or in public places that aren't parks, etc.
Regulations such as these should respect everybody's rights. Existing laws about stalking, eavesdropping, and prowling should take care of any other problems that could be encountered, and we shouldn't be too quick to create more complex regulations unless new problems arise that aren't covered by current laws.