I went with the MPJet AC 25/25-26 Brushless Motor with 5:1 Gearbox running a 9x6 prop.... Great setup for this plane and it's under 60.00 for that brushless motor gear box setup at hobby-lobby
http://www.hobby-lobby.com/brushless_mpjet.htm
I use a PHOENIX-10 ESC which is also under 60.00, the combo is perfect they are both rated at about 15 amp surge although with a 9x6 I have never seen more then 10 amps pulled so a good 1500 li-poly pack makes the setup complete, so for under 160.00 I have a complete brushless setup including the battery and this setup gives 10 minute plus flights and thats with me which I do a lot of 3D so a gental flyer would probably get closer to 20 minute flights on this setup..
Hope this helps all those thinking of getting a Formosa...