I couldn't find much on the internet so here is my own setup and install for the telemetry;
First of all I ordered the TM1000 and the GPS sensor. I thought you had to buy every sensor separately
But as you can see the basic telemetry module comes with a few simple sensors included.
I chose to add the voltage sensor and soldered this to my main f550 board. Seen here just between the two soldered joints. Its a small wire and I thought it would be useful to know the the voltage to help adjust the battery alarm.
Mounting the unit - I was concerned about interference but I also wanted it tidy. I chose to mount it on the underside of the top board. I did a new compass calibration once it was all installed as there are a few new addition near the Naza and GPS sensor.
I mounted the antenna along one of the arms. It says to keep it away from metal objects and I was concerned about the heat from the ESC but you can just see it in this photo below. It seems to work well here.
Finally the GPS sensor; I chose to mount this on top as a good signal is import although i would have preferred to have put this out of sight.
And then the flight test. Initally i couldn't get a response and had to bind the telemetry a few times. It appeared to have binder but when it worked correctly after a few goes the "binding" message on my DX8 also had the word "telemetry". I then had to play with the menus to get the telemetry to show as I wanted.
The only thing not working at the moment is the time at the bottom of the screen. I have seen this mentioned on another website so Ill have to play to get it working. But its also not really necessary?!
After a quick flight test it worked excellently - Recorded almost 40mph downwind and then I flew my f550 up to almost 500ft. Don't forget that the spectrum GPS unit works off the WGS84 GPS datum above sea level and so you altitude is not height above ground. For me this means i start at 100ft when at ground level.
Hopefully this will all help/interest somebody as I really couldn't find much on the internet about spectrum telemetry. Although I have the IOS iPad app for my F500 this telemetry is nice and simple to use and doesn't require me to take anything else to go flying.