I have one and it is a great little engine. The first thing you really must do is to make sure that the Evo 3 bladed prop is balanced. I think that I've checked 4 of them and all needed major trimming. These props can vibrate badly if not balanced. Be sure to have a friend at your club go over it with you, or you can check into prop balancers yourself. It isn't terribly difficult but having a buddy help is good too. If you buy a balancer you will end up using it with different engines and props. It is a good thing to have.

It will run fine with a 11x7 prop. I can't remember my RPMs now. I found that the engine is extremely forgiving if you don't have it tuned just right. I've only had 2 deadsticks on mine and that was because of trash in the high speed needle valve. Otherwise, it is totally dependable. Removing the flywheel weight doesn't really have much effect on how it runs. It should idle just fine.

When you go to a 2 bladed prop you should notice that you will lose the braking action of the 3 blades. They really slow the plane down when you back off of the throttle. You will probably notice quite a bit more power.