Well, first off: You get what yer pay for as they say....
I've used GWS receivers in park flyers, I'd hope that 8 channel Rx is a bit more sophisicated than their micro receivers, I would also have thought that you would need to use a GWS crystal in it.
Best thing is to just try it, make sure you range test it and to be sure fly close in until you're sure you can trust it....