Hello there, Just want to have information from those who are using lipo to power their servo and receivers. I have a 7.4 V rated servos but only have an older Airtronics M11 receiver rx442 fs and DS442. Would it be okey to power these things unregulated?

no... the only sanwa/airtronics receiver that you can use with 7.4v is the new FHSS-3 module that comes with the M11X and the MX-3x.

Another option is to get a spektrum transmitter module for your M11. it comes with a receiver that is capable for up to 9.6v.