Mounting Monoprice Camera - do I need to re-calibrate?

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I am fiddling with mounting a Monoprice MHD 2.0. It is a 140 grams. I bought it for $60 and thought it would be better to try this out before putting on a more expensive camera.

Do I need to re-calibrate my P1.1.1 after adding weight and effecting the balance or does the Phantom self correct for certain changes? I have seen stuff having to do with changing the gain settings and I suspect I will make matters worse. They are currently all on the default settings.

Has anyone found an easy way to mount this particular camera? The camera has a standard 1/4 inch camera mount. The mounts that came with the camera are incompatible with the Gopro style mount. Ultimately I will probably buy a mount that has a 1/4" mounting screw and a a Gopro style base like this. http://www.amazon.com/Arkon-GoPro-Connection-Camera-Adapter/dp/B00IQ7PRHU

In the short term (this weekend) I was thinking of:

1) trying to attach the camera with rubber bands to the side of the Gopro mount that came with the P1. This was inspired by someone who did this with a Sony camera on youtube but the Sony looks much lighter;

2) velcroing the camera to the belly of the P1 as close to the enter as possible. I know this is not particularly artful; or

3) trying to create a simple bracket to attach to the screw inserts on the belly of the P1 and the put a 1/4" bolt through the bracket - possible with a litter rubber somewhere in between the camera and the P1.

Is it recommended to separately tether the camera to the copter?

Thank you to everyone for posting their good and bad experiences. I have benefited by reading through various boards and watching some of the youtube tutorials. So far I have had a great experience flying. I read through the manuals a few times but I would not have figured out many things without access to these posts.
 
This is what I did with my $60 camera. I zip tied the front and velcroed the back. I have flown it a few times and it seems OK.
14363191176321678213155.jpg
 

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