That rudder setup will start to flutter at 40 mph or something... that looks just horrible! Probably 1" of slop on those things.

I'm sure it will fly, and it may even live for quite a while with proper throttle management... providing the rudders are fixed first.

Rubber bands are fine, providing you use good ones and keep track of them. Also 10 light bands are a lot better than 2 heavy ones (redundancy).
Nothing you would use on a fast plane of course, but good enough on something lightly loaded and slow.