This is a thread from long ago, but I have an update for it.
I finally got around to doing this (albeit with a Ricoh Theta V and not the Gear 360). I removed the stock camera and used a dummy plate with the Theta attached to it. Flying blind I did a couple of runs. One with video and one with pictures every 5 seconds. With the default camera removed I was flying blind, but I wasn't going to go far with it anyway.
Had an issue of being chased by a hawk, but at least got enough for a proof of concept.
The pictures turned out fine.
The video...well the video was amazing. There was a hint of jello here and there, but overall it is as good as I could have hoped for. I watched it back in VR (HTC Vive) and is pretty amazing. VR is neat and all, but there have been few experiences that really just made me smile and say, "Wow!" This was one of them. Went straight up off the landing pad to about 100 feet and it legit felt like I was flying.
One thing I did learn if you are planning to watch these type of videos back in VR: Don't rotate the drone. Use the left stick for altitude control and that is it. Why? If you rotate the drone it really screws with your sense of balance. Edit: One other thing. Remember to pull the landing gear up. I forgot and ruined my first flight for this.
I hope to take this setup out this weekend and do some flyovers of the high school football stadium by my house.