It's not quite so big as the headline, but it's still good. Here's the scoop: The FAA has long had rules for model aircraft, which would include many small "drones", and under which you can personally operate them now. You're supposed to stay low and away from stuff you could damage. They also (as of fairly recently) have some rules for UAS (unmanned aerial systems) that are more like the rules for real aircraft, and…
What's the difference between model aircraft and UAS? Is it line of sight flying?
[1] http://www.faa.gov/news/fact_sheets/news_story.cfm?newsId=14... "Because UAS technology cannot currently comply with “see and avoid” rules that apply to all aircraft, a visual observer or an accompanying “chase plane” must maintain visual contact with the UAS and serve as its “eyes” when operating outside airspace restricted from other users." [2]http://www.faa.gov/about/initiatives/uas/uas_faq/#Qn1