Mike,
You are really opening up a can of worms, it's like the Chevy, Ford, Dodge conversation. I would say just check out several different transmitters and see which one floats your boat. I am using a Hitec Aurora 9c in my WACO and personally I like the radio. Touch screen programming and all the bells and whistles at a good price. I think I paid $450 with (4) 7 channel receivers included. Do not take this as an endorsement or a recommendation it is just my preference. Some guys love them some guys hate them. All my planes are flying on this radio.
I will say I have read where a couple guys lost planes due to lockout but I have heard that about all the brands. Luck of the draw I think.
I am using 2 channels for the elevators and 2 channels for the Aileron's. I am also using a Smart-Fly power expander which I highly recommend. This distributes power directly to the servo and takes the power load off of the receiver. It has 3 outputs per channel and makes the radio set-up easy. It eliminates the need for "Y" connectors and offers dual battery redundancy as well. I am running (2) 6v 4200Mah packs for the radio gear and another one for the ignition.
I recommend you do a lot of research and ask a lot of questions before deciding which way to go. It all comes down to what you feel comfortable with in the end. You do not want to have that sick feeling in the pit of your stomach each time you go to fly on whether your equipment is up to the task. Buy the system you want and fly the crap out of it in another airframe 1st.
Later!!
Anthony