Tadpole. Ha ha ha ha ha. 1.0 is a good truck, but drives very differently from the 2.0. The 2.0 is more plush (lot more suspension travel) and forgiving, and IMO easier to drive, but 1.0 is more nimble. I raced my 1.0 a couple weeks ago and then raced a friend's 2.0 a week later. I was about 1 sec a lap faster with my 1.0, but didn't make a whole lot of setup changes to the 2.0. I was 2nd with the 1.0 in a good club race field (5 or so of the guys have some type of 50% deal) so yeah, you can compete with it. I really prefer my 1.0, but I'm more used to it. Can't tell you what you might be able to get out of the 2.0 with some track time with it, but I know the 1.0 can compete.
You already have the KHZ stiffener and braces, that should pretty much take car of throttle servo issues. Set it up the way the addendum says (on Losi site) and you'll be good. I leave the rear screws for the servo just a little loose also. Been running the same throttle servo for 3 years in my buggy. Depending on your engine, you may need to shave the center diff mount to turn your carb the way you need to. Flex chassis is good, you can pick them up for a song on eBay, and last thing I saw about $50 from Horizon. If you use the KHZ braces, you can play around with leaving the screws a little loose to let the chassis flex more. I generally start with the wide hex hubs (and teh 1/2 offset wheels), the extra width helps stability. If the track is tight, I'll go to the standard hexes on front.
DO NOT run the o-ring under your battery tray. Not needed, esp. with the KHZ stiffener. If you run the o-ring, the dang screw hangs down and hits the track. Just run the stock short screw. Also, if you want to mount your PT on the radio tray while using the KHZ stiffener, you can mount it underneath where it would normally go. Couple short button head screws.