Electric for sure - current battery and motor sizes for quadcopters are so much smaller than when this kit was designed I think it will be a lot lighter and better performing than the original.This thing is starting to grow on me. I can imagine it with a retro 50's or 60's automobile livery
At first, I thought it was a funky excuse to use an EDF. While I'm sure you could do that, I see that it's mostly powered by a homemade ducted fan. Usually propped nitro. How are you going to power yours?