I also concur on the failsafe.
Just to give you a little education: Your nitro engine will coninue to run even if your transmitter can't talk to the reciever. In this case, the servo that controls the throttle will probably go nuts. The RC, therefore, will too go nuts. You'll be driving it far away and then VRRRRRRRROOOOM! CRASH! A "failsafe" prevents this from happening.
The other thing that can happen is the reciever may loose power. Rememver the Nitro is going to coninute to run even if the reciever has no juice. When this happens, the throttle servo typically stays at the position that it was when it lost power. It happend to be wide open.... VRROOOOOM!.... CRASH! The failsafe can not help you in this case because it need power to operate. To solve this problem, you install a "Throttle Return Spring".
Having both a throttle return spring and a failsafe, you prevent the VROOOOM!.... CRASH! problem. These incidents can be not only expensive to repair but a danger to others that may be in the way of your run away R/C.
Anyway, in answer to your question, the distance depends on the radio equipment and how dead your batteries are. The best advice is to keep the RC close to the TX and not find out how far you can go.
-Rob