Steve's Gremlin is very fast and powerful ( but he still didn't cut me ) with this motor set up but he has put a lot of work into it to prevent flutter. ( it's smoooooth! ) But what "Steve the elecric guy" doesn't know is "Bob the nitro guy" is working on the cheapest elecric Gremlin known to mankind for you low budget guys. Since I don't have all the cool meters and stuff I am just going to guess and see what happens. I think it will be around 400 watts. I am using a Tower Pro trash can outrunner with a 3 cell. I should be able to keep it under 3lbs no problem. It will be mild for stock class which should be good for the newbie and still be cheap enough to afford mid air losses to your equipment.
I'll keep you posted