Panels is the way to go for sure!!
I think I have around 36 different pieces (panels) on mine.
The bottom has 13 stripes and one blue patch, plus 50 stars.
Top was terrible, around 22 pieces (panels) there.

You'll like it after it's done much better than during the covering process.

Weight is always important, I'm around 5 pounds with engine and servos added.
I'm have a 53" wing and a OS .46 pumper engine, yet it feels very light.
Thanks for the interest
Dave