This pretty little thing is called the Aeromobil, and it was designed by two Slovakian gentlemen. This is supposed to be version 3.0, and the current flying version is 2.5. You can see it flying at this link.
Is it cooler-looking than the Terrafugia? Yeah. Than the next iteration the Terrafugia folks want to build, by 2020? Yeah, probably so. But not by much:
And this one will be an electric hybrid, and will pretty much fly itself. We’ll see how things shake out. At least the technology has progressed to a point where a “roadable aircraft” can really be built…