I've been flying for about a year.

I have an LT-40 ARF with an OS FX 46.

I have a JR 662. If I had it to do over, I'd have gotten the 421 (5 channel) since I'd like a second radio now and would prefer the 8 channel. Prefer, because I probably won't need an 8 channel for a few more years. (I'm currently building a 4*60).

I fly an 11X5, the LT-40 tends to float and a higher pitch prop makes it harder to land.

Covering still scares me. What I did was buy some bright orange trim strips at the LHS and stuck them on the underside of the wing. You'll want to do something like that if you cover in grey.

I'd swap out the 5 minute epoxy with CA. I've never used 5 minute, but most everyone says not to use anything less than 15. I'm assuming your using it for something requiring a quick set.

I fly Wildcat 10% (or maybe its 15%), I know its higher than 5%. As the guy at the LHS what he recommends. (Of course, its probably different for a .46 vs. a .61).

Finally, I find flying to be really fun, so what're you waiting for?