Nick,
We messed around with EPP gremlins 10 years ago. We got them to fly better if we eliminated the downspout and reversed the sweep to save weight and get the motor closer to the CG (no need for a fuselage then).
~Many revisions later, we came up with "The Predator" which spawned a fleet of similar designs:
http://www.tufflight.com/predator.html
Joe (at TufFlight)