OK, let's skip theory for now and move right to the practical. Let's say you have the needle set where you like it for level flight--the engine is running steadily, the lap times are good (around 4.6 to 5.1 sec per lap for the 402), you have good line tension, everything seems OK. Then if you go inverted or do an outside loop and the engine speeds up, it probably means that you need to adjust tank height. With the plane standing upright on its wheels, try lowering the tank about 1/8", fly again and see what happens. If the engine
slows down during outsides/inverted, try
raising the tank 1/8" (again with the plane standing upright on it's wheels), fly again and see what happens. (We'll leave the "why" for later). If 1/8" helps but isn't enough, try another 1/8" until you get a reasonably steady run everywhere.
I notice you have a nonadjustable tank mount strap, which is why I brought it up. Foam double-stick tape along with rubber bands or tie wraps make adjustment possible. There are also solder-on slotted metal tank brackets that go on the front and back of the tank and allow a 4-40 bolt in each slot to be loosened while the tank height is adjusted. (Brodak has them). I just took a look at my S-402 and there isn't a lot of room for slotted brackets. I would suggest flying it first. Maybe you will get lucky and no height adjustment will be needed!
(We need a four leaf clover happy face for luck.
Also, speaking of my S-402, the controls are very sensitive. The elevator is large, and not a lot of control movement is required. Mine balances at 1/4" in front of the spar, has about 20 degrees of Up, 20 degrees Down, and it turns fast. I would recommend that you start with the pushrod in the lowest hole on the control horn for your first flights to make sure it isn't difficult to fly due to oversensitive controls. And keep us posted on your progress.
Kim