about 20-30 minutes flying time
Looking at the plane, the 'point to point' race would be from one end of the runway to the other

Point to point races usually turn out very boring IMO - you take off, hit full throttle, & whoever took off first or has the fastest plane wins.
You should set it up at Heathrow or JFK for example & utilise the runways for course markers & t&g's. (Do a few circuits of the airport or something). Just an idea.
(Or maybe a smaller airport to save FPS).
Cheers,
TSC.