RE: New Bow
The Wasp is a good old bow, a bit finicky due to the length, but that will make you concentrate on your form better.
You will need a string that is 52" to 52.5", dacron only. Endless or flemish will work just fine--I'd go with 12 strands. Again, DACRON ONLY (B-500 or B-50).
One thing that is very important (and often is overlooked), especially with lighter poundage bows, is proper nock fit. A nock too loose, you are more liable to have an accidental dry-fire. Too tight, you loose energy and no amount of tuning will give you consistently good arrow flight.
Congrats, and enjoy!
Chad