[Edit: An hour or two ago I posted the initial version of this, with a poor MWD. Corrected.]
It's fun to go fast. I tried this Dramiel fit out on SiSi today. It hit a top speed of 9076 m/s.
[Dramiel, Crazy Rod] Navy Micro Auxiliary Power Core Navy Micro Auxiliary Power Core Navy Micro Auxiliary Power Core 50MN Digital Booster Microwarpdrive Cap Recharger II Cap Recharger II Cap Recharger II [Empty High slot] [Empty High slot] [Empty High slot] Small Ancillary Current Router II Small Ancillary Current Router I Small Ancillary Current Router I Hobgoblin II x1 Hobgoblin II x3 Inherent Implants 'Squire' Power Grid Management EG-605 Inherent Implants 'Squire' Capacitor Management EM-805 Eifyr and Co. 'Rogue' High Speed Maneuvering HS-905
There were some interesting times getting it going.
Fitting a 50 MN MWD on a particularly grid-poor frigate is not easy. At least two Navy MAPCs are absolutely required, and faction mods aren't seeded on SiSi. Fortunately, I finally tracked down a source and bought 20. Sadly, they will last only until the next SiSi reset.
Once the ship was fitted with its absurd speed mods, I discovered that reaching top speed is actually totally capacitor-limited: it takes a lot of MWD cycles, and they are totally eating cap. A rack of Cap Recharger IIs together with the 350M ISK Digital Booster gets 49% cap stability.
I could only fit the 05 implants because I only have Cybernetics IV. This is 300M ISK in implants anyway, so it's comparable in price to the MWD.
What do you do with a hot-rod fit like this?
Fleet warp target. Go after a Slippery Pete and see if you can get close and warp the fleet in before they notice.
Make bookmarks. You can space them pretty good without having to mess around with the warp drive so much.
Distract someone? If you avoid bubbles and stay out of web and scram range, this fit should be pretty safe at speed; nothing is likely to be able to track and hit it.
Terrible tackler? You can replace one of the cap rechargers with a scram, although you now have about 3 minutes of cap for the MWD. The problems are that (a) you have terrible agility and aren't going to be able to hold close orbit even once you turn the MWD off, and (b) you have no tank at all. If you need to burn quickly to something and hold it down for a few seconds until the rest of the gang can arrive, though, I guess it might work? Maybe they'll decide to shoot at your 50dps of drones instead of you.
Mostly, what you do with your hot rod is go very, very fast.