Hi,
Estimating voltage drop on a cable is only
useful as a means of determining the worst
case scenario.
For example, it is interesting to note that
some load of 500mA or 600mA may cause
a voltage drop of 3.6V in the cable, but note
that if there is no load then there is no
voltage drop.
For variable current (which is common for
things with CPU's in them) the instantaneous
current may be, for example, 500mA for a
moment and then maybe zero on the next
moment. And in these "next moments" the
device will be subjected to all the voltage,
without any drop, which may easily be
enough to fry it.
So I guess you must use a higher voltage
at the source and then regulate it to a lower
one at the destination.
Here is a simple step-down buck converter
which is a drop-in replacement for a
conventional 7805:
http://pt.farnell.com/murata-power-solutions/7805sr-c/ic-switching-regulator/dp/1703410
It is a little bit pricey though. I have a few
such switched 7805 drop-in replacements
for sale, but the work the other way around
(lower voltage up to 5V), but they provide
only 100mA of current.