The Pitts has a shorter tail, and hence it is less stable in pitch than the Ultimate or Skybolt.

Low rates do help, but I would not recommend this plane as a first BiPlane.

If you are new to Biplanes you have to contend with several minor differences over single wing tail draggers.

As you mentioned, they have higher drag, so they must land under power.
They tend to yaw more.
Due to the shorter wings they tend to roll a bit dependant upon throttle position.
They need longer takeoffs, no yanking the elevator back, least you lawn dart the plane.

The Pitts is designed to be highly aerobatic, and it has a short tail moment.

That's not to say you could not fly it... but if you are trying to decide which Biplane to get first, I'd advise you to start out with another aerobatic biplane. The Ultimate 40S is a bit easier to fly.