Mystery solved.
Its taken three evenings and countless set up changes to work it out, but now I have a car that brakes in a straight line and can be nicely balanced through the corners with the throttle.
It all came down to a single screw. To cut a very long and frustrating story short, the servo saver screw appears to have been causing the tiniest amount of binding around the servo center and of course, every time I tested a servo I did out of the car with any old servo horn so never saw the problem.
I will leave the car alone for a few days, I am a bit sick of looking at it, but the weight saving you get from a Lipo makes the M04 hugely tunable just by moving stick on lead around.
Duane.