RE: cheap equipment
There is nothing wrong with Hobby City stuff, as long as it is used in the right applications. Their Turnigy motors and Rhino/Zippy batteries are great. Their battery chargers, particularly the Turnigy Accucell 6, are an unbelievable deal, and they work great. I have used some of the small Hextronix servos, and they have been great. I haven't used any of their larger servos or any RX's.
I also haven't bought any of their glow engines, but the prices are great, and they appear to be at least as good as Magnums.
I have had great success with Berg Microstamp RX's in .40 size glow planes. They can be had from Tower for around $35, and I mostly use Hitec 311 servos in standard sport planes. They are only $8.99 each.
Good luck