On June 4, 1999, at 0834 central daylight time, a Luscombe 8E tailwheel equipped airplane, N2680K, was substantially damaged following a loss of control during takeoff from the Acadiana Regional Airport, near New Iberia, Louisiana. The airline transport rated pilot and his passenger were not injured. The airplane was owned and operated by a private individual. Visual meteorological conditions prevailed for the Title 14 Code of Federal Regulations (CFR) Part 91 personal flight for which a flight plan was not filed. The local flight originated from Lafayette, Louisiana, at approximately 0815. In the narrative portion of the enclosed NTSB Form 6120.1/2, the pilot stated that the purpose of the flight was to fly to the Acadiana Regional Airport (ARA) to utilize the airport's compass rose to swing the compass on the newly refurbished 1947 vintage airplane. The pilot was occupying the left seat and the owner, who is licensed as an airframe and powerplant mechanic, was occupying the right seat of the dual control airplane. According to personnel at the airport, the airplane was in the traffic pattern practicing takeoffs and landings on runway 34. A witness stated that after takeoff power was applied during the takeoff portion of a stop and go landing, the airplane "appeared to have gotten airborne prematurely" and was observed drifting off the left side of runway 34. The owner reported that prior to the accident, 4 touch and go landings were executed on runway 34, which is 8,000 feet long and 200 feet wide. Additionally, 2 stop-and-go landings were performed on runway 34 by initiating the takeoff roll abeam the 3,500 foot marker. On the sixth takeoff, with about 4,500 feet of usable runway remaining, the owner reported that "the airplane broke ground in a 3-point attitude." He added that when the nose was lowered to gain airspeed, the [main wheels of the] airplane touched lightly on the runway and [the airplane] "abruptly" veered to the left resulting in a ground loop. The airplane came to rest in the upright position on a westerly heading, approximately 150 feet west of the edge of runway 34. Examination of the wreckage by the FAA inspector, who responded to the accident site, revealed that the right main landing gear was displaced inwards and "partially" collapsed resulting in structural damage to the main landing gear support assembly. Additionally, the right wing tip, right aileron, and the right horizontal stabilizer were also damaged. At the time of the accident, the sky conditions were clear and the wind at the airport was reported from 200 degrees at 3 knots.