RyanW

There are advantages to each type of gov/limiter. I used the GV-1 for years until I started more aggressive flight. That is when I really noticed that it has a lot of lag for throttle input. It has to sense a decay of head speed before it starts to ramp up the throttle. I went back to throttle curves and the lag went away.
I always recommend setting up your machine with curves and when the engine is broken in and everything is tuned appropriately, then activate the governor of your choice. If you are using a rev limiter, you can use that from the start to keep from overspeeding.
The set up that I have ended up being very pleased with is the RevMax and using my standard throttle curve. You can raise the throttle curve about 10 or 15% to insure the engine is operating at the given rpm or run a straight curve (which I don't recommend). You of course will have your normal mode to switch to in case the rev limiter "wiggs out" or if you have a sensor malfunction.
One other feature that I like to use is the remote gain on these so that if your are flying in exceptionally windy conditions you can just bump up the head speed during the flight.