You can do a reverse flip with any web cam. You don't have to be fancy. Since you are using your teaching voice in the classroom, you don't need a loud microphone but it wouldn't hurt – I have used one.
Right now, I use a Logitech Web Cam. With it, I can even Picture in Picture. I teach computer science so most of my lessons are stuff that are done of the computer. I even do my own closed captioning a lot of the time, talking what I am typing.
Camtasia has a Screen Recorder that you can use to record your screen. There is a company called Swivl that makes a device that makes your camera follow you, I have two, don't use them enough and they are great. http://www.swivl.com/
If they aren't here at #TCEA2013 they should be.
Don't need much else.