Indeed, but if the OP is a traditionalist, and wants to use/absolutely has to have, a Lycoming, he won't get anywhere near the performance that Chinook driver gets.
I should mention, that as a former ultralight pilot myself, I kinda think the Chinook pilot is cheating......though he still showed great skill for sure. What I mean by that, (and I don't mean he was being dishonest at all, just taking full advantage of what his very light but powerful aircraft could do) that he has no doubt the smallest useful load of any plane competing there. BUT, I could kick his butt with a 582 powered Pterodactyl, which would also have even less useful load and be even more "ultralightish." It's funny for this former UL pilot to say, but at some point these STOL contests may want to be limited to "real" airplanes, I can't believe I just said that

I'm sure the Super Cub guys feel similar about Henry's Highlander and Stockman's S-7S!