You can probably get pretty close with a coax. The Lama V4 demo video at Hobby Lobby's site is pretty convincing. However, those guys know how to tune and tweak to get one dialed in just right. With some experience, you could probably achieve this.

However, in the real world, it's as Nuttcaze says; plan on constant input for holding a hover. In fact, I think that "hands off" hovering is probably a bad thing as it could spoil you into thinking you can fly a heli.

If you get a single-rotor heli, you'll definitely be making constant adjustments to hold a stable hover.

Now that said, if you lift off and it takes quite a bit to hold the tail steady (it wants to spin clockwise or counter-clockwise), then you might need to make some adjustments to the gyro. I'm not familiar with Walkera at all though, so I can't help on making the adjustments. You should be able to find some help fairly easily in the Walkera forum, or elsewhere online. Unfortunately they have had some quality control issues, specifically in their electronics.

Jason