It looks like a McCoy 60 on an old speed plane. Good for well over 100 mph in the 50's and early 60's. About the only place you still see the event flown is the AMA nationals in Muncie. The current speed record for this displacement is close to 200 mph. The designs often have very long inboard wings to minimize the actual line length as the control lines at that speed often have more drag than the airplane itself!
Bob Furr