On its maiden voyage, a short test flight, the Terrafugia Transition flying car performed fine.
Autobloggreen has videos and more, plus this from the press release
Terrafugia, Inc., a game-changing aircraft company, announced today the first flight of its Transition® Roadable Aircraft Proof of Concept. Often referred to as a “flying car”, the Transition® is a two-seat aircraft designed to take off and land at local airports and drive on any road. Transforming from plane to car takes the pilot less than 30 seconds.
It will cruise up to 450 miles in the air, uses standard unleaded gasoline, and fits in a normal sized garage.
This is certainly one way to beat traffic jams.