I agree. 2900 KV is too much. Anything over 2000KV is usually best with a gearbox.
If you are set on trying anyway use the 2 cell lipo and a small prop like a 6 x 3 or 5 x 3. Be sure to check the draw with a watt meter to be sure you are not going above your max amp load at full power. If you get close to 25 amps before you get to full power try a smaller prop, less pitch or less voltage.
100 watts per pound is usually a good place to start test flying but given that this plane is a bit heavy a little more would be nice, so you will need at least 200 or better yet 250 watts on the watt meter. However, 250 watts at 7.4 volts is 33 amps which is too much for your 25 amp ESC. In fact you won't even get to 200 watts at 25 amps, at best you will probably get 180 watts or so, if you could find the right prop.
Your plane has about 216 square inches of wing area which is 1.5 sq feet. Therefore your wing loading is about 20 oz per square ft which is a bit high, but not unflyable.
Truthfully, I don't think that the combination you have chosen will work very well. Your ESC is undersized and your motor is over KV. If you could lighten the plane a few ounces it might work OK.
With the right amount of power and the right prop it should be fast and sporty. If it's a hand launcher it will likely take a good heave into a stiff wind to get going.
Last edited by 049flyer; 04-26-2014 at 04:06 PM.