My first question would be: What are you flying now?
My second question would be: What kind of equipment do you have?
My third question would be: What do YOU like to fly?

Even in Canadian funds, $400 is quite a chunk of change. That's like, $16 in the USA Just kidding, the Canadian dollar's pretty strong right now IIRC. It's worth $17

Anyway, ARF or kit or does it even matter? Most any 4-channel can be built as a 3-channel by locking the rudder in place. If you're looking for sporty kits, try http://www.mountainmodels.com. Hobby Lobby has lots of ideas for sporty ARFs, http://www.hobby-lobby.com.