Dave,
To get some ideas, you might check out Dave Robelen's Pixel. It is 13-inch span, uses a geared M20, has 60-sq.inches area, and weighs 26g with 50x3 NiCd's, and 2.2 oz/sq.ft loading. With a LiPoly you can easily beat this weight. I think the key is to scale to wing area, not span. I made that mistake with my Fokker D-VII. It has a 13-inch span, but ony 47 sq.inches because the lower wing is shorter and has a narrower chord. The LiPoly cell may be able to save its wing loading problem, but it might still be a fast flier.
Where I am right now with semi-scale is thinking that somewhere between 65-80 square inches is a good range (I know the Aeronutz go smaller, but this is just where I'm at). For my next scale plane I'll probably start with the equipment including this new light cell, and work backwards to get a wing loading of 2.2 oz/sq.ft or less and then derive size from that. This is what I did with my Dr1 except that I wanted lots of wing area so I scaled the chord by an extra 30%. I should get 1.45 oz/sq.ft loading.
I think with this new cell it's possible to make a semi scale model with some details and still come in with a nice low wing loading, without having to be a super light builder. In otherwords, there is sufficient margin for less than perfect building skills and for scale details like color. I'm guessing if you scale your SE5 to 14" you'll get something around 65-70 sq.inches (don't take my word for it). At this span, 1/32 balsa for the wings will be just fine.
So, try
* 65-80 sq inches
* Geared M20, 6:1 and 5" prop
* Try for 2.2 oz/sq ft or better loading
* Increase landing gear length to allow slightly larger prop
* Mount all your equipment as far forward as possible to get it to balance
* Use a relatively flat airfoil, scaling down the airfoil from your plans may have too much camber (remember our conversation with Dave Robelen?)
* make your own balsa wheels to save weight
* use paint or printed tissue to add color since you can afford it
* Promise the Aeronutz that you really, really are going to make a Depron plane at some point.