The LiPo function on the much more cell master isnt great. It charges at a maximum of 1amp, so you're never going to use it to charge a main LiPo pack unless you are very very very patient. As for charging transmitter LiPo packs, you'll want a balancer to go with it.
If you're serious about going LiPo sometime, you can consider a charger with a built-in balancer like the Bantam e-station BC5, BC6 or BC8. Some people like plugging in a separate balancer and then charging with a non-balancing charger (like the Orion Advantage) but you get more info (mah that's gone into each cell so far) with the balancer chargers, which is kind of cool. It's also a very easy way to charge every charge as a balanced charge.
