That's a hard call, I'd have to see the plane to really get a good idea as to weight the wing will hold or not. The re-inforcement tape will sure help though. Was there some kind of joiner, plywood or something that went inside from one side to the other? Or were the wings just a butt joint?

The smaller plane with that engine will seem to go faster, and in fact, very well might. And bigger planes are easier to learn on. But overall, I don't think you have a bad setup, and you certainly have a good amount of power.

The radio is a hard call. A lot of people suggest getting a 6channel, but unless it's a computer radio, I'd say save your money. A 6 channel computer radio with mutiple model memory will save you money in the long run. On the other hand, a lot of guys still just use the basic 4 channels on their radios for sport flying. In fact, I'd guess that the majority of guys flying never use more than the basic 4, and never use a mix or anything like that. The computer radios do make it easier to set up your plane, adjust throws, and such. If you can afford it, buying the best radio you can can't hurt. But you will get years of service from a basic 4, so it's far from a waste.