RE: How fast?
One problem is that this is the scale racing forum. I bet you would have better luck in the General Racing Discussion forum. Best bet would be to check out RCPRO.org and look at what they have to offer. My guess is you are going to need a different plane if you hope to find a race to enter. Our Warbird racing has a class that your engine would fit very nicely in. Stuff it in a 40 size warbird you should be right there.
Blessings, Terry