A normal receiver has whats called pcm output, drives servos, one for each wire, in our case it goes into a flight controller one wire for throttle, one wire for ele, one wire for ail, one wire for rudder and so on. ppm input when using something like dragon link that has ppm output is like the futaba sbus,,,,,,, all the stuff is ran with one wire from receiver to the osd. but for the multi rotor is useless, it is the part that returns to home when failsafe, plank only
basically the eagle tree and dragon labs osd's are really nice plank controllers. eagle tree offers stabilizer, like gyros for a plane.
Most people with quads cause they don't go very far just use simple osd's. important stuff to know are the voltage, elapsed time and the RSSI or radio signal strength. there kinda slow movers so distance isn't easy so usually gps isn't as important. if you fly with 2.4 rc control, your not talking about more than a mile away at the most.
wookong and that downlink i'm not sure how that works with fpv. how far does it work. can it leave and loose the signal on a gps waypoint course and still come back? to my knowledge that's kinda more a AP type controller, has position hold so can keep it in spot and pivot, etc.