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After looking at the Zenith 601, it is obvious that you want speed. Go for the faster aircraft.

Personally, I rent a Piper Warrior when I need the speed for travel to a specific destination.

For enjoyment, I like things low and slow! My home built airplane is the Challenger II. Maximum speed is 100 and a stall speed of only 18. One of the very few aircraft with a 4:1 speed envelope.

This is the difference between a dirt-bike and a Harley motorcycle. Each type of motorcycle is designed for a specific usage. A Harley, when driven on a dirt or gravel road, is down right scary!

Identify the type of flying that you enjoy. If your primary purpose if to fly long distances, then get the fastest aircraft that you can afford.

If you just enjoy flying for the sake of flying, think about something that performs like a WWI fighter. Those are fun airplanes to fly, but often painful for long distances.

For me, I chose the Challenger II because of it's gliding abilities. Shut down the engine and ride the thermals for a few hours. When tired, fire up that engine and fly home.

With a stall speed of only 18, can you imagine the short fields that I can land in? There is no such thing as not being able to find an emergency landing spot. Give me a little headwind, and I could land in someone's driveway.

At the company that I work for, we have a Piper Navajo and two Piper Saratoga for aerial photography. For this application, we need speed.

Identify what you enjoy most about flying first!

Soon I will be in a position to where I have nothing left to spend money on except airplanes. I have some minor heart problems so I will have to go the sports pilot route. I plan to go to Zenith and fly both airplanes. The Zenith 701 seems to be the most fun to fly especially with its short take off and landing. But yes you are right, there is almost 50 mph between their crusing speeds. I have access to four landing fields and a free hanger within six miles of where I live. I am thinking buy a 701 and then start working on the 601. Just have both. Most of my trips will be less than 100 miles the first year or two. I don't think there would be much actual difference in the flying time between these two as from the time you took off to you completed the trip. Over 100 miles, the 601 would be the plane of choice.