I saw a falconer put on a demonstration once, which was absolutely incredible. When he first popped the hood off the falcon, it took off probably a mile away, very high and long past where you could see it. I quietly thought the bird had taken off for good, while the speaker casually went on about how he traps and trains them. After a few minutes, he showed how he practiced with the falcon, swinging a bird's wing on the end of a 6' rope. The falcon was nowhere in sight, but quickly saw it and screamed in for the kill.
You definitely need a lot of space to fly a falcon, since they are so aerial. Most/many falconers use telemetry on their birds (you can see in my first picture on the falcon) so that if they end up tail chasing something over the hills, you can track them down. Falcons love their lures, in your case, the wing on the rope. They are pretty dialed into them, which is good, because sometimes you really need to get them back in a hurry...golden eagles are pretty fond of falcons, for example.
I have a nature reserve half a lock from my house, a decent sized river behind my alley, and a city park in front of my house, so i get to see hawks, eagles , deer, and all other animals daily and I have to say that the birds are the most interesting to watch. my most memorable experience was taking a walk ing the Nature Reserve( Technically a Bird Sanctuary) and a gopher ran in front of me. about ten feet away from me a red-tailed hawk flies out and grabs the gopher and then drops it about two feet away from me.
On a different not, not that I'm going to get one, or even try to get the permits, but how much does it cost to purchase a falcon?
When you become a falconer, you have to start out as an apprentice. This means that you have passed your test, had your facilities (where you plan to keep your bird) and equipment inspected by a DNR (division of natural resources) agent, and have found a sponsor (someone with a considerable amount of experience as a falconer). You are an apprentice for 2 years. Many states require that you trap your bird from the wild. These birds have to be first year, or passage birds. This is, among other things, primarily because of the extremely high mortality rate for young birds...you trapping one, does not affect the population. In some states, the regs just changed that you can buy a captive bred bird. Depending on what it is, it can range from several hundred dollars to several thousand dollars. The bird is the cheapest part. The housing, equipment, food, time, gas money to get to hunting grounds, permits, etc are what really gets you. I've been a falconer for 7 years now, and have easily spent thousands so far, even with making a lot of my own equipment. It's a very expensive sport!
I should also mention that possessing any migratory bird, raptors included, is illegal without proper permits in the US.