THE PLT HAD RENTED THE FULLY FUELED AIRCRAFT FROM AN FBO AT ORL WHICH HAS HARD SURFACED 4600 & 6000 FT RWYS. HE FLEW TO A 130 FT MSL ARPT WITH A 2430 FT GRASS RWY & PICKED UP HIS WIFE FOR A XC FLT. HE STATED THAT THE ACFT PERFORMED NORMALLY DURING THE 10 MIN FIRST FLT. ON DEPARTURE, THE PLT STATED THE WIND WAS CALM & HE ATTEMPTED A TAKEOFF FROM RWY 36. ABOUT 2/3 WAY DOWN THE RWY AND AT 65 KTS, HE STATED HE ROTATED & THE ENG QUIT. HE DIDN'T THINK HE COULD STOP THE ACFT ON THE WET GRASS & THERE WAS A DITCH AT THE END OF THE RWY. HE STATED THAT HE AVOIDED THE DITCH BY 'REAPPLIED THROTTLE & PULLED ACFT OFF SURFACE AT APRCH TO DITCH. ACFT ROTATED, THEN STALLED.' THE LEFT WING WAS SHEARED OFF AFTER HITTING A STUMP. AFTERWARD, THE ENG WAS TEST RUN AND NO ABNORMALITIES WERE OBSERVED. SURFACE WIND AT ORL WAS 140 DEGS AT 12 KTS. THE AIR TEMP WAS 85 DEGS & DENS ALT WAS CALCULATED TO BE 1800 FT MSL.