RE: rookie needs help buying a rc truck!
There is no doubt that the Wheely King is a neat truck. I had one for a while. It has a scale appearance with the tubular look to the frame, solid axle suspension, proportional wheels and tires and a nice paint job. However, it's not fast; maybe up to 12-15mph. It's tall, tippy and butt heavy. That's why it wheelies so well. There are tricks to flip the chassis around and you can find lots of aftermarket parts for it also. So, if speed is what you are after then Isuggest looking at something else.
Did you read "nitrosportsandrunners" post about Redcats? He has experience with their products so Iwould read through his post on how to make them more reliable. But, if you want 4x4 in your price range then you don't have much of a choice beside Redcat, Exceed, HSP, etc. Pretty much everything else will be brushed and 2WD for around $200.
Did you look at the ECX trucks? Pickup a Torment, upgrade to the metal transmission gears and get one of those Leopard brushless systems and you're good to go!