It's a race a bunch of guys are having in North Carolina for planes powered by Cox reed valve engines.

Here's the thread from the beginning - it's in the 1/2A forum. Some fun reading as these guys poke fun at each other. As far as I know Banjoairplane will be one of the participants (a bit to far for me to make the drive or else I'd be there too).

http://www.rcuniverse.com/forum/m_4693988/tm.htm

Hogflyer