bugsiegel,
You heard right....the Flying Machine can go very fast. Of course it's not much bigger than a 25 size plane....so with a piped 46 you would expect it to be fast. But it also can land going very slow.
The airshow team you're thinking of was the Cloud Dancers from Kissimee (sp?) Florida. The Flying Machine's airshow pilot was Don Muddiman. I first saw Don's Flying Machine routine at one of Byron's Fun Flys back in the 80's. Right then and there I KNEW I had to have one of those planes for myself! I flew it for many years and it's definitely one of my all time favorite RC planes!
If you want lots more info and details about the Flying Machine, check out my Flying Machine web page here:
http://mypage.yhti.net/~dmcdnld/flyingmachine.htm