I received mine this afternoon. All I can say is "WOW"! It certainly looks close to 1/48 scale to me.
The molding and details (that are present) are actually quite nice for a "toy". Certainly better than the details on the original MPC model kit by far. I can certainly echo others' statements that this is a great basis for a fantastic model.
Like the X-Wing, this plastic appears to be polypropylene. If it is, it will require special bonding agents to get things to stick to it. Polypropylene resists most solvents and cements. That's why most objects that are composed of this material are snapped or screwed together rather than glued. There are products that I have used before for bonding polypropylene to itself and to other materials.
Loctite makes bonding agents that work with polypropylene - one is known as "Plastix", the other, "Loctite Plastics Bonding System". Both systems use two components - a surface prep and a bonding agent. When using these, it allows polypropylene to be bonded to itself or other materials. I've used both of these before with great success.
As far as painting goes, there are at least two options: There is a product made by AMI called PolyPro Primer that is specifically made for adhering paint to polypropylene. I have not yet tried this, but some of you may have. The other option is to use an adhesion promoter (which comes in spray cans and is commonly found in auto paint stores) on the surface prior to priming with an automotive primer like Duplicolor Primer. Doing this will give the paint enough "bite" so as not to pull up when removing masks. As with any plastic surface, it should be thoroughly cleaned first of mold release and skin oils prior to applying anything to the surface. I would recommend testing gluing and painting on a portion of the interior surface first before starting on the outside.
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