ORIGINAL: DysisXL
If your thinking about the Hyper7 why not go ahead and get a Hyper8? With the new Hyper8.5 out now you could probably get the H8 for pretty cheap, and as far as radio's i've seen Spektrum DX2.0 with receiver brand new in box on ebay for 100.00-125.00 quite frequently.
As far as engines the Axe Rossi Mamba seems to be a pretty good motor, or maybe look into a Go 5port engine, there is 14 page thread about it and everyone seems to think it's an awesome motor for the money.
What advantages am I going to see with a H8 over a H7 and what are the price differences between the two kits? And thanks for the radio tip...I'll check that out[8D] That Axe Rossi Mamba motor you mentioned is actually something I have been seriously looking into as well.