what happens when the battery voltage drops below operating voltage, will the ESC ensure that the motors slow down gradually, or could it fall from the sky?
This is what I read from wikipedia, not sure of its meaning
A BEC-equipped ESC meant for airplane use often incorporates a low-voltage-cutoff (LVC) circuit which can sense the voltage drop caused when the battery has little charge left in it. It then cuts the power to the 'drive' motor in order to provide the 'steering' servo(s) with enough power to be able to bring the model safely back to the operator. The power to the propeller would be cut but the operation of the control surfaces would be maintained in order to perform a dead-stick landing. Without this feature, all control would be lost when the battery expired, probably resulting in the destruction of the model. In some cases, the BEC is part of the radio control receiver, instead of being part of the ESC.