I know you dont want someone to tell you this - but You need a slower engine to start out with, lol. Actually, it doesnt need to be slower, it needs to be easier to tune, and less on the edge.

The extreme race engines are not only a bear to tune but run on the ragged edge - if yor are off only slightly in tuning, the engine will blow - so alot of experience is needed to get these engines to run, or even start.

If you have a seasoned track professional who is willing to help you, and you are dead set on a race engine - here are some good choices.

This is the engine i race with

RB Concepts V12 RODY ROEM Modified 3PORT #RB1700-000415

It lists for 425.00 - i paid 325.00, here is a link
http://www.ashfordhobby.com/PDF%20files/RBPrice.pdf

Another great choice is the

NovaMega SX-12 Michael Salvin Modified 3port Race #MEG2103RMS

It lists for 345.00 and ive seen it for as low as 260.00, here is a link
http://www.ashfordhobby.com/PDF%20files/NMEGAPrice.pdf

Another u see at the races alot

Paris Racing modified Mugen MR12

It sells for about 300.00, dont have too much info on it.
http://rc-mushroom.com/index.php?cPath=31_34

These are some of the best out there.