You are correct, the magazine article does say the checkerboard is red. I am guessing that a different person added the photo caption, and made a mistake. I am sure the Continental was not repainted. It has a McCoy 40 engine. I think it may have been specially fitted. I have had the model since the mid 1970's, and did weight it back then. As I recall it was about 48 ounces. I did fly it a couple of times. It didn't really turn very well. Apparently due to the very long nose, as noted in the article. After that it hung in my hobby shop in Gardena California until we sold the shop in 1978 and moved to Colorado. The plane is in good condition for its age. The only damage is from the shrinking of the Aero Gloss dope. there are 3 places on the wing where the covering has split, the inboard flap is warped up, and there is a crack around the canopy. But it is still very beautiful.