For small rubber power free flight models, it's usually best to locate the CG as far back as stability requirements will allow. Then trim the stab and thrustline to maximize the L/D during climb, and max lift coefficient during the glide. This will maximize flight endurance.
If we look at the climb diagram, we see that when the wing operates at max L/D, the rate of climb (ROC) is maximized. Even though the climb angle is lower than at max lift coefficient, the airplane flies faster, and therefore after a given amount of time, reaches a higher altitude.