@purplespark: I read an article about that car/plane. It is called the “Transition”. Supposedly, the car/plane has a 20 gallon tank and a 450 mile range. It will reach a speed of 115 mph. The pilot can actually switch from one mode to the other within 30 seconds. The wings will fold up and the engine power will shift from the rear-mounted propeller to the front wheels.
20 hours training time is required for the “Transition”. It has two seats. It is hoped that the vehicle will lead to better safety. If you are piloting this car and detect bad weather, you can just fold up the wings and land at the nearest airport and start driving. They are taking deposits now and hope to deliver the first Transition in late 2011.
Back in my days, I only dreamed of us having these futuristic flying cars!