Here is the link to a Royal Rufe which is basically the .40 size zero on floats. Even with the additional weight and drag of the floats it flies well in this video. I have the Rufe kit and will be building it. If you look here in the warbird section I have been posted a friend's build of a Royal Zero .60 into a rufe which he hopes to have done for the spring.
http://youtu.be/nvStlhHD7_A