Don't worry about embarrassing yourself the first time out, everyone started that way.. Knowing how to fly the plane is fine but it's a whole other deal when you get on the coarse with 3 other planes. The only way to get better is to race..
With the TT .40 you will have throttle so don't worry about that..
There are a number of kits out there and plans also.. You can check SuperT.com or
www.matneymodels.com (make sure specify 424).. If you are into building you can build your own from plans with out much trouble..