your not doing anything incorrectly.
the bindings panel does not generate the isset version of the code, if you want to use the isset version of the code:
1) set the failed redirect to pass the invalid url variable:
pagename.php?invalid=true
2) manually add the isset check
<?php echo((isset($_GET["invalid"])?ValidatedField("usersinsert","UserFirstName"):"" )); ?>
the isset check is a ternary expression, in other words a shorthand if stattement, in the form of:
question?if true:if false
in this case the question is:
(isset($_GET["invalid"])
the true part is:
ValidatedField("usersinsert","UserFirstName")
and the false part is:
""
or a blank string.