Fred,
If you would consider around 300 square inches then I think that might be more a useful size.
Size matters when it comes to carrying weight. Size also matters when it comes to efficiency. Bigger planes can carry a disproportionately larger amount of weight than smaller ones. Larger motors are more efficient and can produce more power per unit of weight.
As Dean has already said the price for all components (including chargers and balancers) would be much cheaper. (not cheap, but certainly cheaper)
As to a setup, other than SHOCKWAVE I also fly a small R/C plane called the Mini Ultra Stik on a Hacker A20-20L motor, Castle Creations 25 amp ESC and Thunderpower ProLite 3S 2000 mah battery pack. It has excellent performance for a plane this size. I think this would be a great "small" plane system. IMHO it would have no problem moving a 300 square inch wing stunter if you can keep the weight down to about 24 ounces or less.
As to what products to buy, you need to decide which level of performance you are shooting for first. This will also help keep costs down. Top of the line would be Plettenburg motors, Schulze ESC's and Thunder Power Extreme batteries. The components mentioned for the Ultra Mini Stik above are also of very high quality and performance.
There is no question that we are still a ways away from a time when you can just say use this motor, this ESC, this battery, this timer and this prop so you need to do some experimentation. (well maybe with the exception of one setup that I know runs pretty well
)
Kim