I've had both, and I've used both as the flight cam on my quadcopter.
I had the normal lens first, then when I lost the mobius when it was on a different aircraft, I took the opportunity to buy the wide angle one.
the normal one never felt like I was able to see enough around me when flying, the wide one is brilliant and the extra visibility has made me a more confident pilot.
Although I have personally tested the lag/latency on the mobius live AV out in the workshop... there IS some lag... but it's tiny.
I fly my quad fast and slow using the mobius live AV out and the lag has never been an issue for me.
In fact, the Live AV out is so good, that I plan on never buying another flight cam again, I will just build a little platform so I can move my mobius around from airframe to airframe. HD and flight cam from this camera is brilliant for such a good price.