The Spot-On 120 is an excellent product, and I'm generally a fan of World Models stuff; only problem is it does not compare well on the 'inexpensive' specification. I think it's good value, but not as much of a bargain as the Showtime.

You can compete in IMAC Basic with just about anything that flies. The scale requirement only sets in at Sportsman and above (which corresponds to Intermediate in Pattern). So any good aerobatic model, which means any good pattern model, will fill the bill for IMAC practice and competition in the entry class. You will maybe suffer from giant scale envy, but that's always the way in this hobby (as well as a few others I've spent time & money on).