wings,
flynboy gave you some great answers, I'd just like to add a few things...

#2) The tricycle gear setup that comes with the p[lane not only won't require any modification, it is also a mush easier system to use. Save the taildragger until you have a little more experience.

3) 99% of fliers in the US fly mode 2 (Aileron/Elevator on the right) I suggest you go this route. It won't be hard, because even if you make a mistake and use your left hand, the plane will still turn with the rudder (it's not like you will go into a radical dive or something equally as scary). This way, once you learn, you will eventually be able to teach others.

8) gennerally speaking, you will probably be flying at 1/2 to 1/4 throttle. With the high lift wing that most trainers have, more power will result mostly in more altitude as opposed to much more speed.

And finally, on your engine choice...

The 46LA costs about $63 Plus, you need a Glow Plug which brings you to about $73

For $79 you can get the Evolution engine which is MUCH better than the LA series. I recently did a review of this engine, and I can tell you first hand that it is VERY good. Here's a link to it:

http://horizon.hobbyshopnow.com/serv...InCategory=EAA