"A friend has that plane with a 46 and it looses speed in a vertical climb."

What airplane won't?

The Ultrastick may not be the best for learning, but it will do it. There is no reason not to give it a try...

Try an 11x4 or an 11.5x4 APC...Keep the airplane as light as you can and it should hover. I've never seen one with a .46 that wouldn't...Give it a try! Max out your elevator and rudder throws and go wring it out.

Take a look at the G2 thread and all the others around here and you will get some great tips on learning to hover.

If you want the best for learning to hover, it shouldn't take you more than a couple minutes in this forum to find it! Doesn't mean you shouldn't use what you've got.

Don't listen to the guys that tell you you need a $800 airplane to start learning.

Good luck!