The Peregrine Falcon is the fastest bird in air, however not a lot of real-life animals have been implemented as mounts. Yes, there are ravens etc but there is no falcon currently.
40% already is a significant boost in speed, and with 160% plus that makes 200%. I'm not sure W101 could handle that speed, and you would be running into quite a lot of things. There's no real use for it and I'm sure people would be complaining "I accidentally got into battle!"
And about that octopus? Why upside down? A dungeon can only hold 4 people so 8 people would have no real use anyway.
I don't ever think these mounts will be in Wizard101, unless they create a falcon. Sorry.