Graduates of the Moulton Taylor School of Aeronautical Engineering((at MIT)

[Floatsflyer]

I've been waiting for the ultralight crowd to develop a flying motorcycle. Still no joy......

Your wait is over...sort of--it's in development(aren't they all). Seems whatever your dreaming of, someone somewhere is already doing it.

http://www.samsonmotorworks.com/

[Hal Bryan]

I've been waiting for the ultralight crowd to develop a flying motorcycle. Still no joy......

Butterfly's Super Sky Cycle is real and has been flying and driving (and selling...?) for quite a few years:

http://www.thebutterflyllc.com/sscycle/sscycle.htm

Then there's the PAL-V...

[Jim Heffelfinger]

The same problem exists in the marine world. RE doing two modes well ( or not).
There have been several dozen attempts at making sailboats work like powerboats - or is it the other way around?
Here is one iteration. It uses water ballast to achieve monohull stability which makes it very "tender" (tippy)under sail and the tiny sail area assures poor light air performance. It is a poor powerboat because it has water ballast and blows through fuel pretty amazingly. This is a sales video and the truth is this boat does work - just so poorly it is a joke in both worlds. Do we see this happening with flying cars?
http://www.youtube.com/watch?v=K1VunIRO_s4
jim