Did the requirements specify Wood as he build material?
Are the requirements only max min length, C02 placement etc?
I had a very good experience using bits of brass tube and square tube which I found at ACE hardware(sorry for the plug but that was the place)and epoxy. My biggest problem being the car was so fast it still had alot of C02 left at the end of the track and blew the engine mounts off the vehicle. with basically a stick frame there is negligable resistance from anything but the wheels on the ground (use four front wheels filled in with hot glue and ground into a disk shape, as they produce no forward motion the logic behind fat tires is invalid and no contact patch is needed for steering), the axle in the hub(smaller contact patch with ground less rotation and drag+ a little graphite), and the teardrop shaped co2 bottle. Again, there will be lots of co2 left at the end of the track so brace the bottle accordingly, build two vehicles, and make sure the timing device is ON. Also let your competitors race first so that they can enjoy their day at the track before you dominate it.
Happy Trails
JK
P.S. my technology teacher in high school was a very generous person for allowing me to strech his rules so far.
Two things if it must be wood.
1. make your car as long as possible, everyone starts wuth the back of their car in line, if your car is longer you are winning before you begin the race.
2. lighter is better, I believe the aerodynamics are only slight factors although if the nose is too thin it will snap at the end of the track. Smoother paint might help reduce turbulence along the surface?
3. Try to use the four front wheels idea. It saves weight and drag. This is a definite plus.
JK