RE: first war bird, how to decide?
Get a hold of Bob Holman's catalog. He has more plans sets than you would believe exists. Many have short kits available. i think this is your best shot.
I don't know of many 80 inch warbirds that will fly on a 120. I'm building an 80 inch Focke Wulf 190 that will weigh in the low 20 pound range. This is roughly typical for warbirds of this size.
Holman does sell plans, and I believe a kit, for the Fiesler Storch. It's a large plane that will fly with the motor range you desire.