Is this the older 72mhz Vanguard VG4R? If so, they did not have a failsafe?

When you say "fail safe" what is beeping? The radio? Throttle stick all the way down? Is the beeping coming from the electric motor or ESC? If so, try reversing the throttle channel? If this is an electric setup, please remove the prop. They do love to cut fingers.

As to buy a Spectrum, I would rather use a 4 channel Airtronics then a Spectrum any day of the week

Buzz.