Not saying you won't get barrel distortion with the ACTi using the cheap lens it comes with, just saying you have very good CS lens choices available, some costs $10 and easily up to a few hundred, so the quality is up to your budget. For example, we use Fujinon lenses, reasonably priced, good quality.
As for WiFi, I tried that with that camera and to be honest, not that good. I got very choppy video and I was maybe 20' from the router. If you lower the resolution, frame rate and bitrate down, it should be fine with it, but I tried it in my lake house and in my main home, love the camera, but ended up hardwiring it. BTW, does not come with a power supply as it assumes you'll use PoE. You can get a PoE injector for it, $15ish, and use that just for power or get a 12V power supply for less with the correct connector and do it that way, worked both ways for me. The advantage of the PoE injector is if you decide to hardwire, you'll already have the injector. The best cameras I tested for WiFi were Brickcom, very strong radios, but a little pricier than Hikvision but nowhere near Mobotix.