Whilst I wouldn't say that 2wd is better than 4wd, the 2wd is likely to be the cheapest option.
Either a B4 or an XXXCR would be competitive, B4 is more popular so there's a good chance that someone you race with would be able to help with setup and parts if you get stuck.
A 7.5 is ample for 2wd especially if you're running lipos
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