I have the Edge 540 with the AXI 2212/34 - Phoenix 25 - 11x 4.7APC - Thunderpower 1320 3cell Great setup. I dorked my plane too many times though, and the front end motor mount is nothing but tape now. Time for a new plane. I can hover the whole 10-15 min on this setup. (my first season flying too) The motor mount area, seems like it could use a bit of ply reinforcement for the AXI setup (I put two small ply pieces along the left and right sides to Levi's AXI motor mount). Just don't try to land with power on, or you'll be gluin' that mount back in!
Great plane, I really got good at hovering TR'ing with this setup.. I can do tail touches all day, and ususally hover about 1-3' off the runway. Shoots up like a rocket if I need it. Can't beat it for the $$$$