I have some video of me flying my Phoenix SeaBee last spring with a Magnum XL .52 RFS onboard:

http://www.youtube.com/watch?v=cLvbke2moDU

I think the Phoenix Seabee is a terrific flying sport pattern plane and an absolute bargain. It's a great flying design that is easy to assemble, and it will fly well with most any inexpensive .46-size ball bearing two stroke engine.

gaRCfield's recommendation of the Venus II is a good one. The Venus .40 is also a better all around flying plane than the SeaBee, but it's almost twice the price. The World Models Spot-On 50 ARF or Groovy 50 F3A ARF available from http://www.airborne-models.com would also be great choices.

If you're not looking to compete in pattern competitions but you want a good sport/pattern airframe to learn advanced aerobatics with while not going broke, the SeaBee is a terrific choice. It's the only ARF I've actually purchased twice; I've put two of them into the ground and neither time was it a problem with the airframe. I lost my first one stalling it on a landing approach, the second had a servo extension come loose while the ailerons were fully deflected in a roll. The only reason I haven't bought a third SeaBee ARF is because I have a Thunder Tiger Imagine .50 ARF I expect to be flying this spring.

If you want a pattern plane you can compete in sportsman class contests with, invest the extra money and pair a .55 AX or Saito .82 with a Venus .40 or Spot On 50 ARF. If you're not looking to compete and you'd rather spend $175 instead of $350 for an airframe and engine but you still want something that flies great, then pair a Phoenix SeaBee with a Thunder Tiger Pro .46.

Good luck and good shopping!