Kevin:
EXCELLENT choice! One feature that the ARF/ARC Orientals have that make it easy to convert is the nosecone styple fiberglass cowl. As Paul said you gotta keep an eye on the weight & balance, mainly by using the right size components. The "O" has a rather long nose and a short/small tail.
PROP: 10", either a APC 10x5 turning around 10,800 RPM or a 11x5.5 pusher clipped to 10" and turning about 9,900 to 10,000 RPM
MOTOR in the 4-4.5 oz weight class. A 2815 size (internal dimensions) or 35-36 (external dimensions) or a E-Flite Power 15. If you use a 4S battery the kv should be around 850-1000, for 3S use kv around 1250 - 1400
Battery: 4Sx2500 or a 3Sx3300 should work well.
ESC & Timer: consder these togeher. A Castle Phoenix 35A or 45A ore the Castle ICE50 Lite any of these matched with a Will Hubin FM-2 or FM-9 Timer. A good alternative is to use a KR Governing timer (from RSM) with just about any ESC of around 40A rating.
ARMING SWITCH: THe Maxx Products unit works well, not too hard to work into the installation.
I would recommend notching out the LE of the wing between the fuse sides about 1" deep to provide a little room for the pack. packs I mentions all weich pretty close to 8.75 oz. the 4S packs tend to be a little shorter & fatter but can be pushed a little farther back for CG adjust.
Since you are starting with the ARC it will be easier to make more extensive mods that will make for a better installation. I would recommend a top battery hatch, with the bottom glued in permanently. remove the motor mounts, it is kind of rdiculous how easy that is to do, and that will save weight and give you more room for the install. Try to gt the battery mass roughly centered on the wing.