What you will need.
A Web Camera.
I got a 2MP USB Handheld Digital Pen Microscope from eBay for about 40$, it had a small round mounting so would be easy to make a mounting bracket for it.
Mach 3 from: http://www.machsupport.com/
The Camera Plugin from : http://www.kd-dietz.com/klausphp/index_eng.html
I then mad a mounting for the Camera to fit on my Spindle Motor.
With this setup it makes it much quicker an precise to set the Oregon Point of the CNC on my material.