Hello WINGS!
I have been reading through this series of posts, and I must admit, you havebeen getting great info and straight scoop!
I have been building for many years, everything from simple trainers, 2 channel gliders to Giant Scale.
I hope to add more to you research by telling you I have also just recently built a SIG LT40 for my wife. She is a new flyer, and club member. ( I got it made now)
We put a EVOLUTION Trainer motor (.46 size) up front and it flys fantastic. The motor is all it is advertised to be. Excellent starting, great idle, pre-set needle for the beginner.

My best advice is for you to find your local hobby shop that has a good supply of Airplane stuff, and ask about local CLUBS. The club will get your questions answered, teach you to fly, and generally help in every way. My club even has folks that will let you try a "Buddy- Box" flight on one of their planes!

If you can spare an additional $25-40 when looking for a radio, I recommend a 6 Channel. The Futaba Skysport 6 is a great choice for beginning. I do have an opinion about "Computer" radios: Great for second radio, skip it for first. By the time you are ready to make use of a computer radio's full features, you'll be ready for another radio anyway. I own several, and 2 "computer" radios that I use on my Giant Aeromaster, and one going into my 96" Hellcat.

Planes, for your first plane unless you are ready for glue, monokote covering, and following close detail, maybe an ARF version of the LT 40 is good.
I am doing another LT 40 with internal lighting, cargo drop, etc just to have a blast. This plane is so COOL, and really can do a lot in the right hands.

Sorry to ramble on and on...
As an apology, here are a few shots of my Giant Aeromaster.