http://dvice.com/archives/2009/04/largest-flying.php

World's largest flying model rocket to launch April 25th
Model rockets are cool enough, but this 36-foot-tall monster is the largest flying model rocket in the world. Built by Steve Eves, this Saturn V model weighs 1,600 pounds, took him 1,500 hours to build, and cost $25,000. Good thing he got some sponsors to foot that humongous bill.
This gargantuan model doesn't just sit there, either. Powered by eight (relatively) big N-Class model rocket engines and one gigantic P-Class engine, it's going to shoot up to 4,000 feet this Saturday (April 25th), and float gently back to earth using three parachutes.
Can't wait to see what happens. It's only fitting that Eves picked the Saturn V rocket for his world record attempt, inspired as a kid when he watched the largest launch vehicle ever made send the first humans to the moon.

Or it is going to go 100 feet in air, arch over, and crash into the ground. 30 seconds later chutes will deploy and catch on fire.

Sorry. I did model rockets as a kid and I had a lot of failures. When I had a good one, it was too good and flew to where I couldn't find it.

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According to a subsequent report, it DID fly as expected, and landed safely.

There are a few videos on youtube. It did fire and land successfully. The video of the launch is pretty cool.

There's another rocket guy who built a 12 inch Joe-scale mercury rocket and flew a GI Joe astronaut on several missions, with varying success:

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