What are the pros and cons of Low Wing Aerobatic Gas Aircraft v. Mid Wing Aerobatic Gas Aircraft from 50cc to 200cc. Not the Cost of the Aircraft, but strictly the flight characteristics of the two types of Aircraft.

Mostly Bull sh it
Properly setup the flight differences range from totally undetectable to a little bit
The real problem is that the rest of the airplane is also . usually different
This makes for instant "expert" appraisals which are meaningless.
The setup for a good foamie that is just hovered and hovered till the batts play out - is all on line - or close to it - it is an easy setup to do
but if you want to prove the answer-- build some foamies and just move the wing -up down -changing nothing else.

I guess I should have said, assuming both same size airplanes are set up properly, what are the different flight characteristics of the Low Wing v. High Wing Aircraft of the 50cc to 200cc Gas sizes?

I have never flown nor know anyone that flys an aircraft this size. I have been flying 46 to 120 size 3D and aerobatic aircraft for about three years and am looking to move up to a larger size.

I'm not really wanting to know which aircraft flys the best, ie; Yak, Cap, Extra, Edge etc, etc. just the different flight characteristics between the Low and High Wing Large Gas airplanes if any.

Im no aerodynamics expert but as i understand it you want the axis of the plane all around the thrust line for best IMAC style aerobatic performance. In theory you want the aircraft to fly in a dead straight line hands off (no wind). With a low or high wing the lift is off-axis of the thrust line so there will be corrections required. Vertical stab and rudder size and shape are also critical to how it behaves in yaw, especially when rudder is applied. It is possible to perfect the vertical stab and rudder so that no mising is required in KE for eg (like alot of pattern planes). You also want something that stalls gracefully and tolerates high alpha flight (for 3d etc) for this you need a double tapered wing (ie not a straight LE like an Edge! My H9 edge could be provoked into tip stalling quite aggressively) and a very light model. Conversely to gliders and jets you also want something that has a fair amount of drag so that when the throttle is shut it slows down dramatically, especially in downlines, a big prop, lots of frontal area and a fairly hefty lift section (though symetrical ofc) help.

Bearing all this in mind in theory (and i have heard supporting accounts) the Extra 260 and Yak 54 scale well down to models that behave relatively neutrally and precisely when control inputs are applied. I have neither so I cant say if this actually works out. Although I have just bought a comp-arf Extra 260 42% so ill soon find out...