Well, we'll see how long the Internet connection (DSL) hangs in! That will most likely be the deciding factor in the reliability of the system. If the DSL modem, phone line, router, or any hardware fails or requires a reset for some reason, that'll kill things pretty quickly.
The camera is an Axis M1013 that I picked up (new) off Ebay for around a hundred bucks. It's pretty much their low end unit. Axis makes a whole host of network cameras like this one, many with real PTZ, wireless internet, PoE and other features.
This is a network camera, and does not require an external computer or any external hardware other than an Internet connection (router, etc.) to work. I configured the camera to automatically upload an image to the server on a periodic basis.
It is also possible to view full live video in various formats. There is a web interface for administration and viewing.
Assuming everything hangs in, it'll be interesting to see the ice form, snow fall, etc. and ice out in somewhat real time.
So far, so good - but it's only been one day