If the stab that came with the kit is fairly hard and close to C grain (i.e. quartersawn) then it'll do just fine. Yielding to temptation and going with 3/16" should work out, but find light wood for the replacement.
Sometimes you can find good "almost contest" wood at your local craft store. You're looking for the stuff that the bird-house building public think of as "punky lightweight crap". On a good day it -- and broken sheets -- will be all that's left in the bin. A-grain 3/16" is probably going to warp as bad as 1/8" C-grain, so be judicious. If you can find some light C-grain balsa, get it.
Personally, I'd build what's in the kit with Brett's recommendations (well, to be honest, I'd scratch-build to the plans, but that's me). Leave the nose as-is, put on a two-wheel gear of some sort, put in a weight box and adjustable leadouts, and go fly.
Note that the entirety of Brett's suggestion is to buy one kit, build it, scratch-build two more planes, and take them all with you to fly. That's not bad advice. If you fly off of dirt, you don't even need to have a fully functional second (or third) engine -- just fly, crash, move the motor over, and fly some more.