Yep... very similar set-up to my starting rig also, and I like the igniter caddy... nice touch there.

The LIFe batteries are nice in that they can safely be left in the plane and charged, where the LiPo's are best removed from the plane, and charged in a firesafe environment. Many of the accidents I've read about were from user error, so particular care (as always should be taken), needs to be taken when selecting charge rates/voltage/etc... If a LiPo is charged at a higher rate then recommended, it's likely to smoke, and spontaneously combust. When used and set correctly, and placed in a firesafe environment, it obviously reduces any chance of damage or malfunction significantly. LiPo technology has evolved, as well as user awareness, with those aspects malfunctions and accidents have reduced, but you can never be too safe with any battery, regardless of chemistry... just be safe and study all aspects. Much of it is about awareness.

I believe each type of battery has it's application. I use Li'fe's in my planes up to about 50cc size engines, and anything bigger then that I use LiPo's to take advantage of the higher voltage and power.to the servos/systems. Nice thing is most every modern charger will charge either type of battery as well as several other types. Once you get accustomed to modern battery technology, there's no turning back. I know I'm hooked, and there's several options these days to accommodate many different components.