Yes, like our venerable Dr. Simon pointed out, Floyd Rose bridges are really worth it once you get them properly set up. When I had mine set up right it hardly ever went out of tune, even with serious bending and whammy stuff. If it's your first FR guitar, I'd recommend you get an "expert" to set it up for you. A fret dressing really helps with the playability too.
My next musical purchase will be a fixed bridge guitar, so I can do drop tunings without having to worry about the whole thing going out. But I'm going to keep the FR guitar for more technical playing.
....From the photograph on that hipshot page I can't really tell where the other end hooks on. It just looks like a long needle thing.