I'd call the Team a "budget racer" in that it had traditional race geometry and not a huge price tag. I'd guess it's around 23-24 pounds fully built up, which I guess would be heavy by today's standards. That said, the bike is as fast as you can ride it. I know that doesn't help, but seeing as it's propelled by you and not a motor, it's not fair to ask which bike is faster than another. The fact that it's now a fixed gear is going to make that equation even easier - since you only have one gear, it's as fast as you can pedal :-)
Many people own and love Team Fujis. They represent an awesome value for a really solid bike that was designed for racing. I'd love to see a photo of it; they're one of the nicer looking C&V bikes around.
-Collin-