Yes you will need at least a 3 Channel Radio set. The recommended set is the Spektrum 2.4Ghz set with a BR6000 reciever which will failsafe on all channels. At the moment there are no others that have been proved to the same level as the spektrum.

As for a speedo, Wotty is about the only good speedo available in the UK. I can supply more info in an email if you want.