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While we're in the Ultralight area, let's check out this interesting new design.  This 2 place "mini-Mustang" is the Titan T-51 from Titan Aircraft.  The engine is a 100 HP Rotax 912S.  Published specs:  Empty weight 660 lb,  Gross weight 1232 lb, Wing span 24 ft, Vne 197 mph, Cruise speed 150 mph, fuel capacity 24 gal, Range (estimated) 720 statute miles.   From their web site, it is not clear to me whether this plane has even flown yet (as of 8/14/02).