Sailor,

Yes, you are right--sort of. For general flying and aerobatics---wing loading and how much of the fuse provides lift are very important as both affect the overall wing loading. With my jets, both of these are the primary concern over wingspan alone. The Giles has a rather wide fuse and hence, will generate some lift and affect the overall wing loading when flying. The sticky part that has everyone concerned with the overall weight is in 3D performance. In a hover there is 23.5 lbs of "dead weight" hangin' on the prop. The fuse area is of no consequence when the plane is hovering other than the fact that it can act as a sail in the wind.
Weight is the enemy....The wingspan comes into play during hovering and 3D manuevers as the more of it you have hangin' out there, the more stable the plane seems to be. Just my .02 as I see it.

I like this plane though....I wonder how much weight could be saved with creative Dremeling, composite gear, etc., etc. The uncovered version would be ideal for this. I, too, would like to hear from someone that has really rung this plane out.

Kevin