My vote is for The Fun Air 3D 40 by jet hobbies
http://www.jet-hobbies.com
they are $99, with free shipping and pilot, build in 5 to 8 hours.
I have owned a Pizzaz and Magic the fun air out performs them hands down
Mine weighs 4 lb 2 oz with a Saito .72, 6 standard servos, 6 volt 700 mha NiCD and beefed up 4-40 hardware. I have heard of them coming out around 3 lbs and hovering with an OS .32 mini servos and stock hardware
Check out this thread
http://www.rcuniverse.com/showthread...and+air+and+40]