I've noticed foamies always feel more spongy and certainly would be exaggerated at higher speeds like that. I'd be beefing things up with carbon fiber, even to go with a carbon fiber skin for maximum strength, regardless of balsa or foam base construction. Some 1/8" stock for the elevons for sure. The wing though regardless of how stiff, not being swept back is going to always pose both speed limitations, stability at higher speeds and that tail fin may not be as effective as it could be considering the prop's close position to it.
My thing is on these smaller planes are they are to hard to lose sight of so I'm not going to be flying at crazy speeds like that with them. Design wise though, I used to have a Multiplex Microjet, that would be super cool to convert and bring back, it had a loyal following in the day and when I upgraded it to BL and 3 cell lipo, it would just insanely over the top along speed, also looked super cool.