A 14x8 prop may be too small. I'd use a 16x8. The oil questions will start a oil war on what is best. Use any good syn. oil at 32 to 1. Set the needles for best performance and fly. Also if the engine didn't come with a NGK plug get one and throw away the Chinese one. Use only a 4.8v ing. battery.
When you have time. Read the following. I know lots of pages. You can skip about half, but there's a lot of good information in the thread. Dennis
http://www.rcuniverse.com/forum/m_9863953/tm.htm