RE: Failsafe???
I have an Ultra Comp and use the Venom failsafe (not the smart temp!). It has saved me from a runaway a couple of times. I have used it with both analog and digital servos without problems.
Another really good thing to get is a 6V humppack if you haven't already.
Your engine problem sounds like you got to lean it more. Just watch the temps so you don't lean it to much.