RE: will it fly?
Might be a bit heavy, but if you have a smooth place to take off, probably. Make sure it is not tailheavy!
Dacron is stretchy; the hi-tech fishing lines - so I hear - aren't as stretchy. Worth a try for more positive control.
Either Dacron or Spiderwire has the advantage that you can start with a short or long flying radius, without having to make up metal lines.
I'd try 25' to 30' lines at first. If 30' is too much, you'll likely be turning laps too fast to be comfortable on anything much shorter...
Luck!