The Lipo plugs to the Electronic Speed Control via the batterys heavy wire lead (not the iight gauge balance lead, that's primarily used during charging).
If the motor and ESC are brushless types the three heavy wires from the ESC will be Plugged or hardwired directly to the motor (polarity does not matter if the motor goes the wrong direction just reverse any two of the three wires).
The light wire with the servo plug will be plugged directly to the throttle port of your receiver.
If your ESC has a Battery Eliminator Circuit (BEC) and it is activated then No you do not use your old 4.8 battery pack or any other packs of any kind at all. I think in practice BEC speed controls are used for smaller stuff like yours.
John
Here is just a thought from me, and that is For your first electrics if you are a glow flyer is to start with established packages and known Airplane/electronics/propeller combinations.
Last edited by JohnBuckner; 03-09-2015 at 11:09 AM.