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From the liner notes

The Miss Madison's seen better days, but she's about to go out in a blaze of glory. The pride of Madison, Indiana. The dilapidated hydroplane's been entered in the 1971 Gold Cup Championship Race, whose $50,000 prize money has been raised by the town itself. Chosen to pilot the craft is local man Jim McCormick, supported by an idolizing son, an understanding wife and a mechanic who's blown up more ships than the U.S. Navy, Jim takes the Miss Madison on her final voyage, in a race to the finish that will leave you cheering!