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I knew about that Terrafugia aircraft-convertible-to-car concept, BadNick, as I just heard the news about it last month, but there's still the matter of whether it is a commercially-viable product, (not as though the homemade DeLorean above is, in opposition) though I did read that the FAA gave it a temporary pass to actually operate in the air. So your case is probably ahead of the game when it comes to either you or I getting such a technology parked outside our home.
Either way, though the military (whichever nation) has achieved success in hovercraft technology before, they were short-lived, and were never seen as "flying cars", much more than they were hovering disks. I still have questions about whether this DeLorean is actually going to have wheels and operate as a car normally would, but still, if it looks like a car, and can elevate above the ground, I'd loosely deem that to be a successful case of creating the world's first (or second) citable case of the future's fantasy, made reality.
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As human beings, our greatness lies not so much in being able to remake the world (that is the myth of the Atomic Age) as in being able to remake ourselves. —Mohandas K. Gandhi
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