the set-up from the manual (as in if you build the car how the manual suggests) is very good. As a rule of thumb though (if you haven't already) fit a bearing set instead of the brass bushes. if you haven't got a manual as you got the car off the bay of E, you can download one from the Ansmann website
IMHO the kit shocks are awful, the tops pop off on landings so consider an upgrade. the B4 shocks "should" fit but a lot of people are running Losi shocks. On mine though (as i'm also on a tight budget) i've upgraded to the Ansmann alloy bodied shocks (Fastrax do pretty much identical shocks) but put the kit internals & springs on them & they are a huge improvement i.e. replacing the horrid & feeble plastic bodies for metal ones. Also the holes in the pistons have been bored out to 1.6mm which you can do on the kit shocks which means the damping action is a lot smoother which is good if you are chucking the car about a fair bit
The only other changes i made was to add lead weight around the Servo & put some 2mm spacers under the ball-studs located in the nose of the car so the camber link bars are level with the wishbones which calms the steering down, from there it's just a case of learning the car & what the changes to things like shock position, tyre choice & link & tie-rod dimensions etc do to affect the way the car behaves on different surfaces or finding what would suit you.
Other than that, what Eric says is spot on.
Hope this helps