I use no low voltage protection on any rocketry related electronics. When a LiPo is discharged past a certain point , it is damaged and needs to be tossed. While some people say that a over discharged LiPo can be saved by first charging with a Ni-Cad charger and then switching to a LiPo charger, even if it works, I would never trust that battery again. Low voltage cutoff is a good thing on items that are easy to over discharge like cell phones, laptops, cordless tools, ext. Save's you from having to buy a expensive battery, just charge them up and your good to go. While having a phone or laptop die is a bother, it is not mission critical. Having a battery on a dual deploy altimeter or GPS tracker cut out in flight is mission critical. I would rather loose a battery than loose a rocket or have one come in with no deployment. Battery's are cheaper than rockets. One problem that I see is that many people do not have good chargers and have no way to measure the internal resistance of a LiPo, which gives you a indication of it's health, so they think that if they use low voltage cutoff they don't have to worry about damaging the battery. I think it's one of those, penny wise-dollar foolish things.
Just what works for me.
Mike