Should we send this to the NTSB?
The NTSB is going to be all over this like hungry flies on bloody meat on a hot day. The reports I've heard were that local NTSB investigators were there within an hour and that top investigators from Washington D.C. were on their way within a couple of hours after the accident. By the day after the accident, they'd sealed off the entire airport.
Unlike most of the people speculating on pilot and flight sim forums (including me), the people going over the evidence will have PhDs in engineering, months worth of flight time, and years of collective experience in aircraft accident investigation. Not only will they be looking at video shot of the incident, they'll also be enlarging and digitally enhancing that video to pull out details that we can't see on YouTube. Simultaneously, they'll literally sift through the evidence, interview the hundreds of witnesses who saw the accident, check maintenance logs and do all the other things that trained accident investigators do.
In about 18 months, we'll have a preliminary report on what went wrong. In 2-3 years, we'll have the definitive report on the incident which will tell us exactly what went wrong and make recommendations as to what we should do in the future to avoid similar incidents. (Sometimes I think that the NTSB gets called a "tombstone agency" because of the size of some of their reports!)
That said, I think that Stratodog nailed it. Trim tab comes loose at high speeds, plane pitches up due to change in elevator trim and goes into a half loop/split S, pilot goes into GLOC, plane becomes an unguided missile aimed at the ground. Commenters on other forums have suggested the same thing.
In that case, the series of events which culminated in the accident started months ago, possibly with the decision to modify the airplane so it could vastly exceed the original maximum speed. Leeward might have forgotten that if you constantly fly a plane in circles at speeds vastly exceeding original manufacturer's specs, you put strain on other portions of the airframe, like trim tabs. After a couple of months, the metal fails under the increased stress and tragedy ensues.