Use an Allison 250 turbine engine.
http://www.youtube.com/watch?v=aOcL6gUQO5A
Waaay cooler, gear reduced and compatible with automotive gear box input shaft rpm ranges, and
AFAIK...never been done before.
Motors are available surplus and are as affordable as some of the stuff in the Ford Racing catalog.
If you want to become the biggest propeller head on the block, that'd do it.
Byron