Yes, it loops easily, but it's easiler with a little dive first. You can also roll it with some work though it often winds up as a split-S. Inverted flight is doable, but we are talking about a 3-channel plane with lots of dihedral .

You can use a DX5e, no problem. Just get a Spektrum 6100 receiver or the 5-channel Spektrum RX and you'll be fine. that's what I have in mine (I use a 9303 on 2.4ghz myself).