Mini-Z

The Kyosho Mini-Z's are a range of small, electric radio-controlled cars -- theoretically, they are 1/24 scale -- in other words, they're a little over 10 centimetres long and easily fit in the palm of your hand. What distinguishes them from other small radio controlled cars are:

• It comes with a wheel radio, while most other RC cars of this type come with a stick radio. The radio, in fact, dwarfs the car.
• It has proportional steering and throttle, in other words, if you turn the wheel a little, the wheels turn a little; similarly for the throttle.
• They are amazingly fast.
• Spare parts are readily available if you break one.
• Hop-up parts, such as motors, one-way differentials are available.
• They can be pulled apart and fixed, or serviced.
• They are expensive: the cheapest one you're likely to find is probably over US$100.
• They are really fun to drive.
• There are racetracks and clubs popping up all over the place.

There are two main variants: street and F1. The street ones are modelled after street cars, like the Ferrari F355, the Mazda RX-7, etc; but there are some surprise ones, like Speed-Racer Mach 5. The F1's are modelled after, obviously enough Formula 1 cars.

A small update. Kyosho has released (in the second half of 2003 for those aliens reading this a long time from now) the second generation of Mini-Z with some redesigns of the chassis. Mainly lowering of the center of gravity by means of rearranging the batteries.
They also released the Mini-Z Overland which resemble the kind of car used in the Paris - Dakar Rally and those have a little more suspension to make them able to handle stuff like carpets (something the original Mini-Z doesn't do too well).
And finally, no doubt inspired by innovative modders that had already tried this themselves, they released the Mini-Z Monster Truck. While the notion of something roughly the size of banana being called "Monster" might seem silly to some, they look like fun. And that's what it's all about. As Kyosho themselves say: "The Monster Truck is the biggest, baddest Mini-Z model ever!".
Info gathered from www.kyosho.com