Keep us updated John. Im doing this to all the older 40Mhz KO and Sanwa radios now and so far its flawless.
re: Corona system. Old DSSS tech, prone to interference issues and not built particularly well. Thats just what Ive heard; I personally have no experience with them.
re: FrSky 4CH wiring. The reciever is definately low budget (its wrapped in cardboard!) but it is pretty good. The wiring isnt too big a problem, but it does give the RX a bigger footprint.
You can remove the cardboard should you wish.
You also have to poke a little hole through the outer casing in order to have access to the BIND button. I done this with a fine tip soldering iron - melted a neat hole through the plastic "window" in the cardboard sleeve.
Re: FrSky "hack" module - John, you should be fine getting it from Giant Cod as they only use the new stock, but for anyhone else - just ensure that your PPM wire has a diode on the end. This was added recently to the new batch coming from China to elimnate a bug where current was coming back up the PPM wire and frying your 2.4Ghz module. If it doesnt have the diode, the FrSky website has details of the diode rating and type which you can get from Maplin / RS / etc for a few pence. WELL WORTH DOING!
hth.