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Behold The Hyundai Uni Wheel. Transportation May Never Be The Same
(cleantechnica.com)
This is a most excellent place for technology news and articles.
You're right on unsprung weight, this is going to add quite a bit, especially if you fill the thing with oil.
Not sure how you still need a CV though, as this performs that function. Watch the video, there's a good animation. Basically this is a reduction gear and CV joint in one unit.
Camber. It allows the wheels to tilt allowing them to keep their entire tread on the ground when only one side of the vehicles suspension is compressed, like during a turn.
Ah Good point, I had not considered camber. As it stands this looks like it would probably not be compatible with much camber flex if any.