I believe the Falcon is a little faster than the Kings Pawn, with a higher performance limb design. The Kings Pawn is longer, a bit more stable and doesn't have finger pinch issues for someone like me, with a draw length in excess of 30". If my draw length was under 30", I'd have gotten the Falcon instead of the KP.

I got the bubinga riser on my KP Special (IMO, if you're going to have it made, at least go with the Special and get the overlays. Nice touch, and doesn't cost very much extra) and if I had it to do over, I'd get the shedua riser instead. Shedua has a lot more figure to the wood and makes for a nicer looking bow overall, I think. Shedua riser and red elm limbs under clear glass on a Falcon Special would be my suggestion.

Whether you need an armguard or not is really determined by your shooting form. I can get away with not using an armguard with a recurve with aluminum arrows. On the other hand, I always wear an armguard when shooting wood or carbon arrows. It's at least a bit of protection in case an arrow breaks on the shot.

I've used both a glove and tab while wearing glommitts and never had any problem with either. It's a bit of a challenge to get the mitt on over a glove though. Personal preference.