A California company has combined a Corvette with a luxury speedboat and thrown in some jet ski to create a holy trinity of awesomeness it calls the WaterCar Python.

For around $170,000, you can pick up a Python rolling chassis and install a General Motors LS series engine of your choosing – from a used LS1 to the same mind-bendingly powerful LS9 found in the Corvette ZR1. Choose that level of insanity and WaterCar estimates the engine and transaxle installation should run an additional $30 to $50K.

Once installed, the Python will make short work of your trip to the boat launch with an average 0-60 time of 4.5 seconds. Once you get to the yacht club, stun your high society friends by driving the Python straight into the water, pressing one button to retract the wheels and another to start the jet. You'll be gliding on a bright blue highway in seconds. Far from a glorified Amphicar, this baby can do 60 mph on the water.

In addition to being one of the absolute coolest toys we've ever seen, we can imagine high-speed police chases in L.A. might get a bit more interesting if suspects choose a Python as their getaway car.

On land, the Python is a custom-built hot rod that looks like a cross between a Chevy Avalanche and a Corvette. Out on Lake Havasu, where you just know one of these will show up, it's a 20 foot luxury boat appointed with a polished wood dashboard and a leather wraparound bench seat – just like the Chris Craft you keep at your house in the Hamptons. Sadly, air conditioning, an automatic transmission and a hardtop are not currently available.

We're especially amused by the dual set of safety and regulatory guidelines that apply to an amphibious motor vehicle. Headlamps and turn signals are to be used on land but green and red nautical lights are for use on the water. Not only do owners of the Python need to register their vehicle as both a car with license plates and a boat with marine stickers, but special amphibious vehicle insurance must be purchased unless owners want to buy both a car and boat policy.

On paper, the Python appears to be twice as fast on the water than its closest competitor, the Gibbs Aquada. We wonder how long it will be before someone smashes Sir Richard Branson's record of crossing the English Channel in an amphibious automobile that he set in his Aquada back in 2004.

Photos: WaterCar Python.