It remains to be seen - depends a lot on who helped Venom with the design of the boat. I like the looks of the Miss Excite much more than the UL-1, but the UL-1 was designed as an out-of-the-box racer. Venom makes some great looking boats, and the electric King of Shaves has proven to be a decent performer out of the box, but they're just a tad more "form over function". You need to do some work to the ride surfaces to get them to handle like a race boat. If the hydro has nice, crisp edges, and follows the same build formula as the UL-1, it should be a screamer. The UL-1 was designed by one of the fastest racers in the history of the hobby, but the boat was tweaked to work well within a specific speed range with limited power (though it's still a monster). Properly setting up a hydro is truly a science - two different hulls running the same electronics and hardware could have vastly different handling characteristics. If the Venom can tool around at 40 - 45 mph out of the box while maintaining control through the corners and down the straight, they'll be bringing something to the table for Aquacraft.
One more thing to consider - Venom may be going after a different customer. I've got to say, the UL-1 isn't really what I'd consider a beginner's boat. I've been racing RC cars and messing around with boats for around 30 years, and my first couple of runs with the Aquacraft got my heart racing. I've driven faster boats, but the UL-1 was designed to be a spirited ride at 40+ mph. You really feel the speed as it gets pretty light. The Venom could be just as fast, and just as stable. Or better. I guess we'll just have to wait and see.
I'm sure you're already aware, but to anyone that may not know, hydroplanes are meant to run in a clockwise direction - they don't turn well to the left. They're the "Indy Cars" of the boating world, where deep vees and cats are the GT-class LeMans racers. I've gone to the pond a few times and met guys that were frustrated that their hydros would either flip or behave poorly while trying to turn left.
I'll likely pick up one of the Miss Excite boats after I buy the King of Shaves P1 mono. I'm sure it'll be a fast boat, it's just a question of HOW fast and how well it's handles going fast.