The sats really are a great choice as long as you don't need tons of range. If you're only flying LOS they're perfect as their range is considerably longer than I suspect the visibility of the quad will be
If you're flying FPV...I'd be careful to range check the extents of how far you plan to go before flying as the sats aren't intended as a primary receiver and don't have the best of antennas on them. Don't take that the wrong way - I'm not trying to put the sats down and they are good RX's (I use one on my 230 twitchity and my friends warp) but on a FPV setup a more full featured RX with better antennas and RSSI does have some benefits.
Support for the sat actually predates the Naze and has been in MW for some time. Same with sBus (Futaba) and HoTT (Graupner) which are also digital serial signals like the spektrum sat.
As CD mentioned the binding support is new. I've always just hooked the sat to a full RX and done the binding there which works just fine. I have seen some people (on both Naze and Tau setups) having issues with binding through the FC. Keep in mind - the spektrum protocol isn't officially documeted so this is all reverse engineered, and there are various flavors of the Spektrum protocol (DSM/DSM2/DSMX) which support different "options" (11ms vs 22ms) and that can all effect how binding is done. So it's a complex issue for the FC firmware developers to address. So don't be surprised if you run into some hurdles doing the binding through the FC. Don't be surprised if it "just works" either
Three things to watch out for on the sats based on my experience:
1) Don't trust the wire colors. I believe currently shipping Lemon sat's are now wired correctly but for awhile they had the red and yellow wires swapped. Wiring it backwards won't hurt anything...but it won't work either
There are photos in the first post of the warpquad thread on RCGroups that show the correct wiring.
2) Protect the antennas. At least on the lemon sats the antennas are fairly small wire with comparatively large insulation around them. This puts a lot of stress on the antenna wire where it mounts to the board as the antennas flex under G loads. A dab of hot glue at the base to help hold the insulation to the board goes a long way. If the antennas do break replacing them is simple - you just need a piece of wire the correct length. After mine fell off I replaced them with some wire that's a bit thicker and has thinner insulation and they're holding up much better with no effect on range as far as I can tell (I still have more range than I can use flying LOS on a 230)
3) Protect the signal wires. They're VERY fragile. Again a dab of hot glue where they attach to the FC will go a long way towards protecting them. (Assuming you're soldering them on and not using a connector as I know some boards like the Flip Pro have a connector for them.)
Other than those 3 things they work great and are a simple cheap and reliable RX for LOS quads and FPV when flown at the ranges 250 FPV setups are usually flown within.
One of these days someone will take me up on my offer of a custom RX
FWIW my homebrewed RX has given me fewer issues than any other RX I've used. My orange openLRS RX died for no apparent reason, my flysky RX's have no failsafe and don't seem to live long in crashes, and my spektrum sat has lost it's signal wires and it's antennas in crashes. My homebrewed RX has been through more crashes than any other RX I have and is still going great...even if it is still FlySky protocol (which is it's biggest weak point - though I've never had any issues with FlySky despite lots of people claiming it glitches and drops out frequently...I suspect that's the cheap "official" rx's fault more than the protocol based on my experience.)
As for failsafe settings. I'm with CD (and FGA and Soma and others) and go with 1 sec before activating and then 1 second at minthrottle followed by disarm. The exception is on my Tau setups where I run 1 second before activating and then 5-10 seconds at minthrottle because the way failsafe on Tau works is a little different and failsafe won't actually disarm - but you can set a disarm timer that will disarm when no change in input is detected. I'd like to run it lower...but then I have to throttle up as soon as I arm or it will immediately disarm. That and the lack of profiles are my 2 biggest gripes about Tau.