Kirk,
Years ago, when I first got involved in endurance racing (Entropy Racing), the team owner, Charlie Greenhouse, had something that looked almost exactly like that. They worked very well. I've seen others that have ball valves on both the fill and vent lines, which lets you store fuel in them. Also, since none of the cars we ran were still street legal, we removed the restrictor from the filler neck, which allowed for a larger fill hose. I don't remember the exact fill time, but I believe it was on the order of 30 seconds.
------------------
MARRS #25 ITB Rabbit GTI (sold) | MARRS #25 HProd Rabbit
SCCA 279608