OK, so I had my heli set up so that it would go to idle and low pitch. It still turned around and came at me. It didn't make it too far before setting down, but it travelled several feet. I'm not saying PCM is bad, but that has been my only experience with fail safe and it was anything but safe.

Fail safe works if you know when and how your radio is going to fail. Anyway, I'm not against it, but I don't see that it's really all that safe because for all you know your plane will be in a situation where having it dive to the ground is the worst thing that it could do. Or having it fly straight and level may be the worst thing it can do. You just don't know what the situation will be when the radio goes into fail safe.