Yes, I have two of them actually. One has a Norvel .049, hasn't flown too much. The other I stuck with electric, has a mini ac motor(I don't remember which one), 3.8:1 gear, 9X7 slowflyer prop. Flies GREAT! Any 300-400 size or brushless equiv with gearing should work out well. Just be carefull on the wings - they have a bad tendency to twist.
As for battery, radio, etc... I used(on both) Hitec Electron 6 receiver, HS-55 servos, Different battery packs depending on how I want to fly it(or for how long). My favorites are the thunder power 3 cell 1500mah Li-Poly packs. Check with your LHS, they should be able to help out some more too. Keep it light! [8D]