Hmm, then you'd have issues with glide profile - when you kick out the motor mount, the CG shifts way forward, so the model in effect becomes nose-heavy and if you had had a reasonably straight boost, you'd go into a dive.
Of course, if you're generating much lift WITHOUT kicking out the motor mount, the bird would have been pitching up throughout powered flight and probably come close to doing a loop.
The old original R/Gs from the Sixties, the Astron Space Plane, etc., used to kick out the engine, and then they usually had elevons that would be pulled up by elastic, etc, to turn the bird into a lift-generating glider. That might be the way to go with this one.
EDIT: Now that we're talking about it, I took my model out of its carrying case - I hadn't had it out in quite some time. (Too many other irons in the fire!!

) It does have spring-loaded elevons which apparently are activated during flight.
Probably attach a streamer to the engine pod for recovery and use a little dowel or something to keep the elevons straight while the engine pod is in place. When the pod ejects, the elevons spring up and you (hopefully) start gliding.
I'll also second the big thumbs-up in the EMRR review for the enclosed launch pad and ignition system included with the SR-71. The pad is a nice PVC tripod a couple feet off the ground, a big thick blast plate, and a heavy-duty 2-piece 1/4" rod which should be fine to launch MPRs. The pad can pretty easily be modified to acommodate 3/16ths and also 1/8th rods (you'd have to drill two holes would be the extent of the necessary mods), so it's pretty adaptable for whatever you want to use it for.
The wiring system looks nice too, feels solid to the touch, etc. Definitely a nice bonus, because I didn't really have a MPR launch pad, (well actually i have 2 now - dang gift-givers!!!) So who knows.... may be the time to take that leap into F's and above...
