Is that a 280 Lancair or a 320 (tail moved back about 7 inches) . My understanding is they are flutter tested to 400mph.
The model name was 235 (i.e. Lycoming O-235 L2C was the original engine of choice). This one has a Lycoming O-290 (140hp) installed, which is effectively the same block but different crank, pistons, and cylinders.
The 320/360 was a teensy bit bigger in the cabin, taller gear, and more fuel in the wing and some small changes to the wing tips to make them a bit stronger / justify a higher Vne for the bigger engines - although there has never been a case where a 235 suffered damage or failure of the wings. Later versions of the 320/360 added larger main gear ("Outback gear"), and a larger tail (just called "the Big Tail") for better control during landing. The flutter issue you mentioned had to do with the larger tail - it was a theoretical study, but there has never been a reported case of flutter with either tail and no accidents where the tail separated from the airplane as you would expect if that had caused the accident.
The final evolution of this model was called the Legacy, and used a 6 cylinder IO-540 up to a turbo-normalized 310hp version which would drive you along about 320knots / 350mph at FL250, but you had to wear a mask as it was not pressurized. The 4 seat models were available as pressurized, but they were silly expensive. The cabins of Legacys are absolutely spacious by comparison to the 235 (which is about like an MG Midget with wings), and you won't find an example of the retractable gear version you would want to buy for under about $150k.
This is my third Lancair. I proposed to my wife in a 235, traded up to a 320. Engine failure forced a highway landing a few years back and because someone in an SUV didn't "clear final before taking the active" I ended up having to belly up in the ditch rather than on the pavement. It would have cost more to repair than the plane would have been worth in sale, so I took the settlement and we bought a foreclosure home at the very bottom of the market which was the best investment I ever made. The 235 is "unpopular" because it doesn't really allow people over about 6'2" to get in comfortably and is a bit tight in shoulder width. It is also the hardest to fly well, and can be daunting for lower time pilots. However, it is absolutely perfect for my wife and I - and the one lesson I have learned both myself and from my friends is that when buying an airplane the most important criteria driving your purchase should be the mission for which you intend to use it for - otherwise it becomes a pretty ramp weight.
The builder of this airplane spared no expense. He installed $25k worth of brand new avionics (Garmin 635, EFIS, AP, etc.), and it is immaculate in the build. He was an instructor, and after flying it only 2.5 hours he went flying with a student in a Cessna, the student did something stupid, and they both died. It was so new it hadn't completed Phase 1 (a requirement for new experimental builds to fly 40 hrs close to home before it is a "real airplane"), and so many people looked, considered, and passed. The friend of the estate kept dropping the price, and eventually I got a brand new airplane for $30k (it should be noted I drive an 18 year old car, and if I thought I wanted to buy a $150k Legacy I would have to choose between that and my wife...). It was a steal, although in fairness the declining pilot population is creating lots of these sorts of deals these days as the young ones no longer seem so interested in flying. So, once again I have a plane my wife and I can jump into, fly 800 miles from Atlanta as the crow files in about 4 hours (that includes most locations this side of the Mississippi, and an arc including Houston, Dallas, Kansas City, Oklahoma City, Milwaukee) without stopping for about $120 (or $60 each). Given that there are over 15,000 airports in the U.S., most places I might want to go I can get to (door to door) quicker in the plane than I could flying commercial, and without the hassle of TSA etc.
Life is good!
