Suspending is fine, that's how I've got the one I have running. It's a little bit of weight with the acetal block, but not enough to be a problem I don't think. The only thing I noticed about the flow meter was initially the meter had a very light tick noise that was noticeable, but after running it a day...disappeared and fine now.

I also think any of these impeller type flow meters are going to require calibration depending on the fittings used. Not all fittings have the same ID and also an elbow before/after will probably tweak the calibration too.