While looking at radios, you might want to check out the Hitec line. I have been using these for several years and have been well satisfied.

In particular, the Flash 5X is a nice computer radio at an entry level price. Has five channels and will store 5 different planes in memory. Has lots of electronic goodies - exponential, dual rates, mixing, etc. Right now these go for about $170 through Tower.

Agree with the comments regarding Thunder Tiger - I have a Pro .46 that seems to get stronger each time I run it. This is one engine that I never have any hesitation to recommend to anyone.

Do check out what is being used at your local club. You may even find some real bargains there - an alternative to an ARF could be a used trainer with engine - here you do have to be a bit cautious, but if you know someone who is a flyer they could help you check out used planes.

The upside is that I can't think of a much quicker way to get going.

The downside is that you don't get any insight into the building of a model.

As always, there are about as many ways to go in this hobby as there are people in it.

Take care and I hope that this $0.02 worth is helpful.