THE ACFT STALLED & SPUN TO THE GROUND FROM ABOUT 200 FT AGL AFTER AN ABRUPT PULL-UP TO APRX 45 DEGREE DECK ANGLE DURING A PREMATURE LIFTOFF. THE PLT HAD BEEN OBSERVED MAKING HIGH SPEED TAXI RUNS 'TO GET THE FEEL OF THE ACFT'. AFTER A RUN RESULTED IN A LIFTOFF, THE RT WING DROPPED & ALMOST HIT THE RWY. THE PLT WAS OBSERVED RAISING THE WING BY APPLICATION OFTHE FLT CONTROLS BUT NO LOWERING OF THE NOSE OCCURRED. THE ACFT CONTINUED THE STEEPER THAN NORMAL CLIMB AND REACHED AN ALT OF APRX 150 FT AGL BEFORE THE RT WING DROPPED TWO MORE TIMES. ONE RECOVERY OF BANK WAS ACCOMPLISHED WITH THE NOSE OFTHE ACFT STILL MAINTAINED IN A CLIMB ATTITUDE. THE WING DROPPED SHARPLY THE 3RD TIME AND THE ACFT WENT INTO A SPIN FROM WHICH NO RECOVERY WAS MADE. THE WITNESSES SAID THAT THE ACFT NEVER APPEARED TO REACH THE PROPER FLYING SPEED. THE ACFT OWNER HAD JUST FLOWN IN THIS ACFT WITH NO MECHANICAL DIFFICULTIES AS STATED IN HIS REPORT. THE PLT HAD LOGGED NO FLT TIME SINCE 1/4/84. NO MEDICAL OR MECHANICAL DISCREPANCIES WERE FOUND DURING THE INVESTIGATION.