Venom, MPI, Futaba, and OFNA failsafes have all worked very well for me. I like the adjustment dial on the Venom, MPI and Futaba failsafes. The size of the OFNA is great.
Yes, use a throttle return spring as well. This isnt a 'one or the other' as much as it is to run both. A failsafe will save you while you have power to your servos while a throttle return spring will save you when the servos do not have power. I dont know of a single throttle return spring that can overpower any of my throttle servos while they are on.
As for temp gauges....... Well, I have 2 venom on-board temp sensors and like them a lot. I primarily use it in my on-road NTC3 because it does not go off road and the chances of hitting water are minimal. I run another one on my Savage/Maxx for tuning. I like the Venom on-board because of the high temperature recall. Again, I love it for tuning to temp. Yes, you can tune purely to performance, but the highest speeds I've even achieved, without stalling and running just fine, have beein in excess of 400 degrees. I like to know the temps for that very reason.
Temp guns I have now are the Radio Shack handheld and the Craftsmen handheld. I like the Craftsmen better for 3 reasons.
1. It has a red dot to show you where you are taking temps
2. It takes regular AAA batteries (a lot cheaper than watch syle batts)
3. It has a high temp hold function that is great. When polling the inside of the head area, you can pass right over the hot spot and miss the hottest temp reported. With this temp gun, it will keep the highest temp seen on the display until it hits a higher one. You can shut this option on/off by the click of a button.
ALL electronic devices are prone to water. Receivers, failsafes, onboard temp gauges, servos etc.. When placing all of these devices, consider everything you can do to prevent water damage. Scrap pieces of lexan help as much as placing it in the right area of the ride.
If you are a SEVERE off road basher that likes to go mudding and through massive amounts of water, remove your on-board temp gauge before the bash. And seal your servos and radio tray to boot.