We’ve all giggled at the predictions, back in the 1950s and 60s, that everyone would be driving flying cars by the turn of the millennium.

Of course, it didn’t happen — and nobody alive at the millennium was very surprised.

But, now, the nay-sayers may have to change their tune: A real, affordable (to some, at least) flying car is set to go on sale in 2009.

The rear-prop, folding-winged Terrafugia Transition flying car is expected to sell for just under (US)$200,000 and will be legal on the street as well as the airways.

Do you need a pilot’s license? Eventually, probably. But not for now — in some jurisdictions, at least. The Terrafugia is still classed as experimental. In fact, it isn’t scheduled to take its first full-scale test flight until next month.

We’ll keep you posted on Terrafugia’s retail ETA at a terminal — er — driveway near you…