Brownsfan,
I don't have very extensive experience with using them. That said, I have been watching the market using these internals. And they do what they do very well ... give an over all feeling as to what the market is doing. For example, if the tick spends the majority of its time above zero (preferably, between 600 - 1000) then I only go long.
The up/down volume seems to give a broad sense of the market as well, so I use it like the tick ... If there is more up volume than down, then I only go long.
Though, like I said I don't have all that much experience with watching these ... since I have only been at it for the last 4 months.
As far as draw downs, I use other indicators (MA's, trendlines, and wave analysis) for my actual entries, exits.
Hopefully, someone with more experience can shed more light on this topic
Travis