I hope you get through your issues before throwing in the towel or going E-powered. First off I know how it is to have new stuff that your itching to run but can't take to the track because of conditions, but you should not be running your new stuff around water puddles, c'mon man... Is this your first nitro other than the motor with the rod issue?
Where do you live?
Do you live near a track?
Do you know an experienced racer?
Nitro engines aren't as finicky as some think, just that many people don't know how to listen/tune them. Many have their engines running just good enough to get the job done and clean out on top.
I had an experienced 1/8 onroad guy to mentor me a couple years ago when I started and if not would have been in the same boat. You need to put it down till you get some help in tuning.
Read this, with the minimal tuning experience I had I read through this countless times then took my car to the track by myself one day and started figuring it out. Not that I know it all,,,, yet, but this will help you progress once you get the basics. It's long winded but very much needed info.
Good luck and don't give up!!
http://momentum-rc.com/joom/index.ph...tips&Itemid=46