I used the Tower hobbies .60 size kit floats, but forget the length. I think you could get by with the .40 size but at the time I wasn't sure. The thing looks "Majestic" rising off the water in the morning.

As to power, I originally had a worn out K&B .61 on it and it flew well but sounded kinda funny for the way it looked. I put the OS on it just to break in the engine and liked it so well it never came off. It will hover at about 3/4 throttle (I have a 3 bladed prop on it) and actually has a little 'zip' when it flies. Much more fun then the one my flying buddy has with a .46fx on it.
It's primary purpose is really teaching newbies how to fly and the engine has saved the plane countless times. 20-25 minute flight times are the norm with the stock tank as we are flying at half throttle most times.