I have a robot arm to cob together somewhere here in this pile of parts.
With regards to your robot arm I have always wanted to build a real robot arm that could move with precision and do real things under visual and tactile feedback. (I actually experimented with this a long time ago using the OWI arm toy and adding a web cam and POT position sensors and wooden blocks to move). Was much too slow and lacked precision (although visual feedback can compensate for that to some extent thus making even a simple radio controlled car do clever stuff with a human brain and visual feedback.)
However tactile feedback is an absolute requirement for a real robot arm. Vision mainly tells the system roughly where the object is but manipulating the object properly needs tactile and force feedback. Humans can recognize known objects and their orientation and position just by touch, no vision required. Even touching part of the object with a finger or two is sufficient for a quick reorientation of the hand to manipulate an object or objects within the hand.
Nothing so elaborate.
I just need a rig for a limb with 3DOF in order to test a kinematics library. I've never put one together from scratch (no 3D printing) so I'm doing a lot of experimenting that's very McGyver-ish.
But it's progressing.
And I'm learning stuff.
So, there's that.
For the vision part, use a high-quality camera. I will suggest a Raspberry pi, Raspberry pi camera and the OpenCV library.