There is a lot of good information here and here is a little more, keep things as simple as possible but buy the best gear you can afford. If you have the choice buy the slightly more expensive motor, OS and Thunder Tiger make good gear some of the other cheaper engines should only be used as a sinker at the end of a fishing line. The extra $20 or $30 you spend in cash will save you countless hours trying to make crappy engines go well. As for radio gear same deal applies buy quality gear with 20 model memory and it will grow with your stable of aircraft, buy a cheaper radio and you will soon run out of model memory. The reason I tell you this is that in the long run it will save you money, time and above all give you the ability to switch and engine from one plane to another knowing that there is plenty of power there to cart the bird around the sky.

This is a fantatic hobby, you will meet some great people and make some lifelong friends.