Flying car that looks like, well, a plane

What happens when you get a group of MIT-heads and MBAs to design a flying car? It looks like a plane.

The Terrafugia Transition flying car is a "roadable" flying vehicle, for those tough times when a pilot just feels the need to drive.

It's odd, it's ugly and it's expensive. Cheaper than a private jet, though, which might make it a more "affordable" option in these tough economic times. Retails for about $200K (USD).

What it think is really scary is the selling point about training:

"Become a Sport Pilot in as little as 20 hours of flight time in a Transition®-specific course." Yikes!

UPDATE Mar. 19, 2009: Terrafugia flies for the first time!
Terrafugia flies!