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Yes, in fact it won't run on 5v. It's powered through a step-down regulator that supplies it internally with 5v, but this regulator needs at least 6.5v to work. It runs nicely on 2S and 3S, but I would recommend 2S since the Rx will run cooler.
You can not use it with fat shark system. Becarefull its channel combination.
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Great receiver for replacement or for building a diversity system.
It works with 12V, not with 5V which is written in the description above.
But if you want to power it with 5V, you can bridge the power reducer inside the receiver.
Also you can find a RSSI output at the 4. pin of the receiver www.link
i ordred this set and the reciver does not power up. now have to order another one as i would like it in 2012
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This receiver is great it have 90db S/N Ratio (around 5 DB Better than the Airwave use by Fat-Shark) giving better range, please be aware that its receiver IS NOT COMPATIBLE WITH FAT-SHARK, it use different frequencies in the 5.8 GHz band) but it work great when use with the compatible transmitter like the Hobbyking Product ID 263000003. So double check that the unit is compatible with your transmitter frequencies.
My Unit came working for 12V input (3S Lipo) but it get too hot (No good for summer days), So I recommend to use a step down switching regulator on /-9V, this will make the unit running much cooler and it will use less amps, I been using my RC305 with this setup with very good results.