That's a lot of big questions packed into such a small paragraph. I'll break them up to answer them:
>How does the copter fly
I'm not sure exactly what you mean by the first part of this question, do you mean how does it move in the different axis?
and what is used for stabilisation?
For stabilisation you need a flight controller board. The one we currently stock is the Cirus Multiwii (HCRECO0001). This board has an Arduino based microprocessor with triple axis accelerometers, gyros, compass, and a barometer to allow it to sense the current orientation of the copter and make automatic corrections. You do need to do some fine tuning to get this to work well.
What is required to fly it remotely?
The most common way is to use a standard radio controlled transmitter and receiver. I would advise against using one from a radio controlled car or boat and use one designed to be used with radio controlled aircraft. These range from 10's to 100's of pounds depending on their quality and functionality. I would consider getting one that has at least 6 channels so that you have some spare should you wish to add additional functions to your copter (the bare minimum the copter will need is 4, 5 if you want to be able to switch flight modes). I would also recommend that you get one that operates at 2.4GHz. Unfortunately most transmitters and receivers use proprietary systems so although most do operate at 2.4GHz you will need to make sure your choice of receiver works with your choice of transmitter. The transmitter and receiver can end up costing more than the copter depending on what you choose but keep in mind it can be moved across to any future modes you may buy.
Additionally you can also attach one of our Bluetooth slave modules that allows you to remotely tune the parameters and receive telemetry to a laptop or smart phone.
A complete parts list with quantities as to what would make the copter fly and be controlled would be helpful
This is also a tricky one to answer because it depends on what you plan to do with it but as a rough guide here is what you need:
1x V500 frame
4x Bushless motors as per image
4x Electronic speed controllers (ESC) as per image
4x Propellers (2 sets of 2 in opposite pairs)
If the above is purchased from us as per the image you should have all the screws, connectors, and heat shrink necessary to put this parts together.
For the flight controller as mentioned above we sell the Cirus Multi Wii (HCRECO0001)
Although not necessary I would also recommend purchasing a power distribution board (HCRECO0003) that will allow you to route power from the battery to the 4 ESC's easily. This sits below the MultiWii controller board.
You will also need a standard RC transmitter and receiver as mentions above which we do not currently stock.
The last thing you need is a battery and charger. Multicopters, as do most types of RC Aircraft, require a lot of power. You'll need to purchase at least one Lithium Polymer (LiPo) battery. We don't currently stock these but you can find them all over places like eBay and Amazon. I would recommend this to be a 3 cell 11.1V battery with a capacity of at least 2150mAh. The other thing to look for on these batteries is their discharge capacity. This is important. It is usually given in a C rating. For example a battery with a 30C continuous rating can supply a continuous current of 30 x its charge which for a 2150mAh battery would mean a discharge capacity of 30 x 2.150A = 64.5 Amps. This sounds a lot but as I said, multi-copters are very power hungry and I would not consider a battery with a lower rating then this. Be carfull of cheap brands, they do tend to lie about their discharge ratings. That said there are lots of cheap bargain batteries out their that work well.
further how will it be powered;
See above
what would be the flying time on a full charge
This is completely dependant on your choice of Li-Po battery, weight of the model, choice of motors, how you fly it, etc. But as a rough idea a 2150mAh 3C 11.1V battery which is a relatively small capacity for this type of aircraft will give you about 10 minutes of flight time.
and what would be max payload?
This is also dependant of the above choices but with the components we supply you should be able to lift a small camera with a pan and tilt head with ease.
I am not quite sure how to put together a flying and controllable copter with the description given above.
What you need to keep in mind is that these models are not toys and there is a learning curve involved in being able to build and fly them. A lot of manufacturers advertise their models as being ready to fly out of the box but this is almost never the case and usually require a leaning process and lots of fine tuning to get them to fly. I would recommend reading up on various RC forums such as RC Universe. There are also a mass of helpful videos on youtube. One youtube user (painless360) has some great instructional videos. Here is his video for wiring the MultiWii board up:
http://www.youtube.com/watch?v=H-vDhhyKWho
Why do you not offer a complete flyable kit?
This is something we will consider if this product continues to be popular. One thing that may be of help to you is you take a look at our product page for the frame here:
http://hobbycomponents.com/index.php/re ... frame.html
You will see various suggestions for accessories down the right hand side which will all work together.