The experiment was a success! The results are in: it didn't work. The first issue is that the motor was not running right -- I don't know if it's a bad bearing or loose connection or what, but it just doesn't sound right, and the pilot reported issues with getting enough power. Moving the LEDs and electronics to a separate battery ruled that part out as a possible cause. The second issue is that it simply doesn't fly well. Adding the weight of the electronics and moving the wing to the bottom of the fuselage is making it too unstable to be controllable.

Back to the drawing board... first goal is getting a flying airplane, so I'll swap out the motor and see if I can get it running better, or maybe borrow Joe's glider since it has a beefier motor. Second goal is reducing weight... I'm going to pull the silicone sleeve off the LED strip since it's just dead weight and we don't need the water proofing. Third goal is better aerodynamics... Marlin suggested building a "spray bar" to hang under the plane so the wing can go back where it belongs. I ordered some rigid clear plastic tubes to try putting the LED strip inside them and mounting it under the plane where you can see all the LEDs well.

Marlin managed to get some good shots in between crash landings last night, but we're definitely not there yet: