[E-Revonut]

I honestly must say I think what your trying to acomplish is darn near impossible on that budget. A 1/8 scale roller will use up a good chunk of that, even a used one. A set of Lipo batteries, which will be a must for theose kind of speeds is going to set you back at least $150 even if you get zippies. You'll need a Lipo charger and depending on the charger a seperate power supply may be needed. Then there's a motor and esc, a low end motor is still going to be at least $50 and a low end esc will be at least twice that. Then there's a radio system, a budget 2.4ghz system can be put together for about $100.

Roller - $200-300
Motor - $50-250
esc - $100-$200
Batteries - $150-300
charger/PS - $150-300
radio - $100-300
Steering servo - $50-100

As you can see even on the low end your looking at $750 for a 1/8 scale. I think to get close to what your looking for a 1/10 stadium truck such as a Rustler VXL may be the best bet. Truck is about $275 and you can pick up a charger and Lipo for about another $225. That can get you in the 40-60MPH depending on what bettery you choose.