Yeah, I used one in my first Avonds F-16. It worked flawlessly. I set it up to "beep" at 200 and about 10mph above my landing speed. I would recommend you get the one with the earpiece. It's hard to hear with everyone flying.
I got the famous "wing off Master Caution light" illuminated...the crash happened just a few seconds afterwards. The plane was doing 167mph when the wing came off and about 120 when it hit the ground. OUCH!