A few people seem interested. I will be adding pages with the current rules, and some suggestions for organizing races like this in your area. If it gets popular, maybe a wider rb-racing org could be created. I would welcome comment via e-mail.
At the ABYA winter rendezvous (Mar. 2, 1997): (Anchor Bay Yachting Assn: an association of Lake St Clair Yacht Clubs)
Huron Pt YC boat wins regatta at Perrysburg, Ohio. Complete Results
A boat fielded by Jerry Lindquist and Gene Mutter, representing Huron Point Yacht Club, won the ABYA RubberBand boat race. It set a new course record of 1.42 seconds from a standing start over the course length of thirty feet, eclipsing the old record of ~1.8 seconds.
Powered by 8 motors (each with 12 strands of 1/4" rubber), the boat swings two synchronized, counter-rotating bronze 2.56 x 4.096 octura props through a 2:1 step-up. the shafts are mounted through the lower edge of the transom giving about 45% submersion for the fixed surface-piercing props.
the boat jumped the stop-net during practise, and shortened its nose against the far end of the pool, thus guaranteeing that it met the 24" overall length requirement. The carbon-fiber hull was otherwise undamaged and will enter future races as a deep-vee pram. (The hull was designed and laid up by Bill Hearn of PoorMan's Yacht Club (a competitor); he thought it was 'too skinny' and gave it to Gene.)
(Things do get a little strange when boaters are kept indoors by hard water.)