How fast does the average beginner-level pylon racer have to go?

I'm considering getting into pylon racing, but I can't get a new plane to do it. I have a 40 sized scale Miles Sparrowhawk with about a 54" wingspan and a K&B .48 engine. I've never done an extended full throttle run with it, but I'm guessing that it will do 60-80 mph if I let it get up to speed. It's built very light.

Is this quick enough to be in a pylon race? Unfortunately, I can't get a picture right now. It has bad stall characteristics when the engine dies on takeoff.