Cheapest Raceable Bikes

Here we go folks, I'm jazzed and ready for this April 7th at Grange Motored Bike Race. Check out this little cheapie, $770 all new stuff($725 possible, pricey controller); 30mph capable, 25mile range at 25+mph.

BPM motor $207 delivered http://http://www.bmsbattery.com/rear-driving/351-bafang-350watts500watts-bpm-motor-e-bike-kit.html
(Quality) Lyen mini-monster controller $95
Cheap thumb throttle $15 (same ebikes.ca site)
3 Nano 6S 6Ahr lipo bricks $260 includes shippinghttp://https://www.hobbyking.com/hobbyking/store/__11941__Turnigy_nano_tech_6000mah_6S_25_50C_Lipo_Pack.html
Target comfort bike $183 out the door

Now I know there's lots of you that can outcheap me, so what's the lowest you can go, mostly new stuff, and your bike still make the 20mph club,ehh?

Got radared at 27mph, probably 28mph top speed at Grange. The long straight is about 2% uphill. My 18S lipo runs 30ish when topped off; on level no pedal assist, though it is a hi-wound torque wind. I did lead once into the 1st corner so torque is sorta robust.
(Try this simulator: select 36V500W BPM motor, custom 66.6V battery, 26A controller)
http://http://www.ebikes.ca/simulator/
I knew the gassers could come in low $$. I was kinda curious how low. Electrics could be lower than $800 or $725, but sub $300 is hard to get under, that's a truly frugal ride!

The battery cargo can be beat with a little innovation. I'd lift up my behind the seat blue mini cooler and show folks my 3 lipo bricks. Then they'd ask what's in the side bags. Just a $5 coupon for when I go to the grocery store. Plan to craft a battery and controller carrier to tuck in around the seatpost soon. Groceries are easy with a backpack, but gets hot here in Bakersfield come summer and need to free up every inch of cargo space. Your cargo remark is an inspiration to make the batt holder out of Lexan sorta to educate folks as to how compact the fuel/power source can be.

Placed I think 3rd in lo-power class and had too much fun. #98 Nashmoto has a rather refined setup, he lapped me at lap 11!. Think 2nd went to a moped, those guys have a lot of expertise amongst them. Hear that 3rd snuck into the race with 66cc China Girl, all in fun, but won't count in the official results if true. Hmmm, 3rd, maybe 2nd place on my grocery getting bike in small <49cc class. Now that's lots of fun on the cheap.

Yeah, kinda hard to know where to post for electric/gas blended topic.

Re: Price of Raceable Bikes

Here's the other end of the spectrum:
ArrowCycles, according to one article; $1500
You gotta know that the Rust bro's build top notch 2 strokers.