I have the airplane which is a Great Planes Easy Sport .40.

I have the engine. An OS .46 FX with tuned pipe. It is badly gummed up and has a broken throttle arm on the carburetor. Any tips on getting this motor "restored" to working condition?

I plan on getting a new Radio system with new servos, receiver etc... I'd like something with 8 channels and good features for future more advanced models. Any recommendations?

i also have a glow starter + charger

Things off the top of my head that I need:
1) New caddy to carry all my crap
2) glow plug wrench
3) glow plugs
4) fuel pump to fuel airplane
5) 12v battery to power accessories
6) electric prop starter
7) electric multi panel to operate electric accessories
8) AMA membership?

anything else I'm missing? I just want to get back into flying asap. I'm mostly interested in the "must have" items. I want to also teach my step-son to fly so I will be getting him a cheaper radio that can mate up to my future 8 channel radio for learning purposes.

You'll need new batteries and switches.
You can get the throttle arm from OS.
Skip the power panel. Consider mounting a Lipo battery to your starter rather than using a cord and use a self-contained glow starter and a manual fuel pump. Even with having to buy a basic Lipo charger, your total cost will be near the same, and it's so much more convenient.
Do you have a good flying space, or will you need to join a club?

AMA membership isn't mandatory to fly,..... that said,...many clubs have a mandatory AMA membership to be a club member and the benefits are usually a decent field/airstrip, liability insurance for your flying and a reasonable political representation concerning the legal issues around the r/c hobby. the mandatory part is the FAA. now a days...... being that you are operating what is essentially a short wave radio the FAA requires you to register your radio for use in the airways.
beyond that,.... join a club before going out and spending a lot on equipment,..... you will learn a lot about newer tech and accessories that are available. a lot has changed in the last 10 years !.

Where did you get the information that the FAA requires RC pilots to register their radios? The pilot must be registered and must put his number on every RC vehicle he flies. But I've never heard of the FAA wanting radios registered.

as far as I understand,...that's what you are doing when you register with the FAA. if I am wrong, so be it and I stand corrected. they are the ones that regulate your radios wave length an strength, aren't they ?. the way I look at it,....the pilot has to register, but his radio has to be within a certain range of frequencies to be used for r/c,....it is therefore regulated and registered.

Ah, NO!

The FAA requires you to register yourself as a recreational drone pilot. All done on-line through the FAA web site: FAA Registration Five bucks for 3 years. They will issue you a number which you are required to place on ALL Your RC Aircraft weighing over 8 ounces. Same number on all of them.

AMA membership is not mandated by law. However, your local club may require it if you go that route. Having the liability insurance provided by the AMA isn't a bad idea however, many home owners policies will also cover "Recreational Line of Sight" flying. Terminology is important here so as to not confuse the insurance agent. Some home owners policies can also have a rider added to establish or "up" your coverage for flying. Worth checking with your agent as this varies from company to company and state to state.

Radios operating on 2.4 Ghz do not require registration. And if they did, it would be by the FCC, not the FAA. If you get into FPV (First Person Video), you open up a whole new set of restrictions and rules. And some of the video radios require licensing of the operator through the FCC. As mentioned, a lot has changed in the last 10 years and it looks like it will continue to change over the next few years. And there is an over abundance of mis-information out there. You're better off going to the FAA site and educating yourself some.

No! The FAA does not "regulate your radios wave length an strength". The FCC does. And for systems operating on 2.4 Ghz, as most do now, there is NO FCC registration. Just buy it and use it.

that's what I love about internet forums. ........they are nothing but a game of waiting for someone to say something wrong and then be chastised and sarcastically corrected 15 times in a row. all the while...... those same people scratch their heads and post questions like " why is there such a decline in this hobby's activities and organization memberships ?",...it's because of the wonderful sites like this one ...... thank's guys, for setting me straight !.....pretty soon, i'll be able to be a regular member here myself !.

I have re-newed interest also after a 30 year hiatus. I think your plane/engine choice is a good one. I would take the engine apart, clean it well, and replace the broken parts. Everyone has a personal preferene on radios. I am looking at Futaba and Spectrum. I just purchased a simulator for the up coming winter. I am looking at an electric-jet-floater to ease me back into the hobby.

Good luck and WELCOME back my friend!

Actually, that's not true. The forums are a place where you can get information, assistance, referrals and, if needed, parts as they are listed. The biggest issue about using the forums is that misinformation does get passed on and those that catch it can be, to put it nicely, less than tactful. I know I get slammed in a different forum all the time by those that think they know all. If they call me on something, I just ask for their source of information and, more often than not, they don't respond. Those that do usually are correct and I learn something. It's not a game to those of us that are here to learn or help, it's just the way things are with some people. They either don't consider the way someone else will take what they say in a post, don't really look at other posts saying the same thing they want to say or, unfortunately, they have to show that they know more than others. I would tend to think that none of the posts in this thread were meant to be anything but helpful though one or two could have been worded better.
Now, with all that said, let's get back to the FAA and FCC:
FAA deals with anything that flies, hence the "A" for aircraft
FCC deal with anything that transmits a signal, which is where the "C" comes from, for communication. The FCC regulates the frequency used by various products, the allowable transmitting power(in watts) and who can actually transmit. As far as anyone without an FCC license goes, you can transmit up to .5 watts using a CB radio, cell phone or R/C transmitter. To broadcast anything with higher wattage, you pretty much need to be licensed and have legally set up equipment