Keep shipping and handling costs in mind when you're comparing prices online. Nitromodels.com will charge you around $20 to ship that plane to your house, so the real cost is around $100. Other online resellers like
www.omnimodels.com or
www.infinitehobbies.com will ship orders $100 or higher for free, so you can spend less on shipping and more on your airplane.
Also, Nitro Models ARFs often come with scant documentation and may not be the best choice for your first assembly project.
You might consider instead something like the Goldberg Eagle 2 available from Omni Models for $109.99 delivered. For an extra $10 or so versus the Nitro Models trainer, you'll get an airframe covered in Ultracote/Oracover instead of shelf-paper type covering. Instead of black decals on the fuselage to simulate windows, the Eagle 2 comes with clear, see-through windows and a pilot figure.
Omni Models also stocks a wide variety of engines that will work well with this trainer. If you order your engine at the same time, you can get it shipped for free as well. Omni Models has a coupon code available right now, 44W38, that will knock $15 off any order of $149 or more in addition to the free shipping.
You could pick the O.S. Max .46 LA ($67.99), the Thunder Tiger GP-42 ($61.99), or the Magnum XLS .46A ($69.99) as three great choices for the Eagle 2 ARF trainer. The O.S. .46 LA and the TT GP-42 are both plain bearing 2-strokes that produce good power and both are famous for being reliable and very easy to tune. The Magnum XLS .46A may require a bit of breaking in and extra tuning, but it's very powerful and a great value for a dual ball-bearing design.
Omni Models also carries the terrific Super Tigre G-40 and G-45 engines, but they're currently out of stock. If you wait to order and they're back in stock, either would be a great choice for the Eagle 2 ARF as well.
Radio systems tend to be a personal choice. Futaba, JR, Airtronics, and Hitec all make very good radio systems at very good price points. Some pilots don't mind spending extra up front to jump right into the new 2.4Ghz spread spectrum radios, but there are some very good computer radios designed around traditional 72Mhz technology as well.
My advise would be to go ahead and spend a few extra dollars and start out with the Spektrum DX6i transmitter and receiver package available for $179.99 and then purchase four Airtronics 94102Z standard servos to go with it. This will give you an advanced spread spectrum computer radio with a 10-model memory. You will be able to grow with the radio for many years to come. At $219.99 for a complete 6-channel 2.4Ghz radio system w/ servos, this is also an outstanding value.
You could instead opt for a 6-channel 72mhz computer radio system complete for around $159.99 to $169.99 from any of the major manufacturers, but you're giving up a lot of technology for $50 or so. You'd be better off starting out with a standard 4-channel 72mhz radio for $119 since you'll like be replacing any 72mhz radio system sooner rather than later.
Hopefully all of this information helps point you in the wrong direction. Nobody wants to spend any more than they have to, but you are in more danger of spending too little than too much when you're first starting out. Quality equipment will last you for many years, but cut rate equipment will need to be replaced far sooner.
Good luck and good shopping!