You'll usually get a small amount of trub initially, but it will settle out in the keg or bottles.
Since 1990 (+/- one year) I've never had a spigot leak If I've cleaned and reassembled it correctly - hint: the washer goes on the outside of the bucket and don't over-tighten by twisting the body of the spigot more than an eighth of a turn!
I don't see any advantage to turning the spigot opening up. The spigot WILL hang up on any dangling hoses, cords or stray cats. Just plan ahead a bit to clear the path when moving the bucket. And chase Brew Cat out of the brewing room.
The only problem I've had with a spigot on a bucket fermenter is that I decided to go to a stainless fermenter and spent more than I wanted on an SS BrewBucket. Actually, the BrewBucket was worth what it cost.