I have bought one of these systems and in general I am very impressed for the the money.
There does seem to be a problem with the failsafe certainly on my system. If you power up with the throttle channel closed the failsafe remembers this and if you open the throttle and then turn off the transmitter it fails safe and closes the throttle. The problem is that if you then turn the transmitter back on to simulate a tempory signal loss the receiver resets the failsafe to throttle full open as that is where it is set when the system regains the signal and from then it fails very unsafe. It may be that this only happens when the transmitter goes through its power up cycle and may not happen with just loss of signal but it does seem a bit hit and miss.
The other thing that worries me slightly is that as there is no bind button on the Tx so what is to stopping the receiver binding to another transmitter that is turned on between the bind button on the receiver being pushed and the transmitter you want to bind it to being switched on in a transmitter busy environment like an event.
I have put down a few more findings at http://www.robotwars101.org/phpBB/viewtopic.php?t=1226