Let's see--last question first: the flybar must be perfectly balanced and perfectly level and in track with itself. I look at the leading and trailing edges of the paddles and try to get them lined up with the little link balls on the flybar control frame. If the paddles are parallel to the frame they are parallel to each other.
I check the flybar tracking by removing the main blades, unplugging the tail motor (Noting carefully the polarity), and running the helicopter at moderate rpm. There should be no vibration and the flybar should track accurately. If I look at it sideways, it should look like one thin thing, not two, as it spins. This is pretty important, the flybar is what you control with the controls and it in turn flys the main blades on the CP non-bell/hiller head. I adjust by loosening the little screw/nut and twisting, and adjust balance by loosening the little setscrews at the control frame and sliding the whole flybar either way and measuring accurately. The collars right up at the paddles are the flybar weights, one can make the helicopter somewhat less responsive ("Twitchy")) by adding another set of weights here, or more responsive by sliding these weights evenly in toward the hub. Tighten carefully, one doesn't want this stuff flying off, I use Tamiya liquid threadlocker or Loktite 222.

Secondly, if you are going to use the LiPos in the CP as opposed to the CPPro, you might want to read the notes on the Horizon/EFlite site on motor/pinion/battery combos for the helicopter. Important info for motor life, etc.
I think you can also download a manual here, which is very helpful to have, for setup info and parts drawings.

Thirdly, and very importantly, RADD's.
http://www.dream-models.com/eco/flying-index.html

Have fun and keep us posted, you can get a lot of good info from these threads, and a laugh or two too.