The electric version should go pretty fast, I would guess 120 +mph.
It will all depend on how many batteries you're willing to carry. The fuse has tons of room and the wing area is pretty big.
Another flyer on RCG has his flying on a 3S4P setup and he said that it was real fast, not F5D fast, but still really fast.
I also think that we need a minimum of 7" dia prop, so I'll start with a apc 7x7 and go from there.

The plane has landing gear, so I don't have to worry about hand launching a heavy wing loaded plane.

Splais, just get a PAIR of LR-1's

Hey, does the MVVS engine have a throttle? or is it a race engine with only a fuel shut-off?

I'd stick that engine in it and fly it