There was quite a bit of interest here in Phantoms and Mites a few years back, 2005 I think. I'm glad to say I may have been responsible, having build both types back then.
If you do a Forum search the old threads should come up.
Re the tip weight, my Mite did need a small washer glued under the wing tip ( see photo ). I flew it on 35' Laystrate, not much line pull with my model so lighter lines should be O.K.
I've a attached some pics. of my Mite, which, still gets flown sometimes, although it did become a bit of a Hangar Queen when diesel fuel became very hard ( impossible ) to find here in Australia. I mix my own these days, problem solved........John