I have been racing for the last 6 years and have learned a ton, but nothing about radios. I currently have a M11 with the Spektrum Module and it has way more functions than I want or need.
What specifications do I look for to compare a $60 radio to a $500 radio?

All I need is:
2.4 ghz
<5 model memory
EPA
EXP

Eric

Man I felt the same way. Everyone was telling me my radio was holding me back (in nitro racing). I hated to believe it and I ran a cheap radio for a long time. Then I finally caved and bought the Futaba 4pls....holy freaking cow!!!!! My lap times dropped tremendously, the feel of the radio was awesome, the features were superb....so glad I switched and it's only 250$....a lot of guys I see run the same radio I just never paid any attention before.....it's worth it, I will be a spokesman for good radio equipment from now on

The main difference is latency time. The 500 dollar radios will have a faster signal transfer. They menus will generally be better layed out, and have lots of more fearures.