Go for it, and wax those 40ers !! I know how it fells to get trophies while some big, good aircraft are not getting any. Just be ready that some may not want to give you advice only because you have a smaller plane.

After all, basic is an entry class so it is OK to try with anything. To a certain extent, you could even compete in sportsman next year with that plane, but I would not expect to win, I would expect to have fun at least.