Since the new tube of silicone sealant cured properly, we launched the first water rockets in the back yard tonight with the grandkids. The launching system and rockets worked great. The 2 liter bottles would soar 200-300 feet in the air depending upon the amount of water and pressure I used. I used my portable compressor to pump them up.
Here's a shot taken with my digital. The blur at the top is the rocket.
We had two rockets and launched both several times and the kids chased them into the back field and neighbors yard. We finally lost one that for some reason went horizontal and started to glide after it lost power and it went beyond a creek and tree line. The other got lodged in a tree. I made a replacement tonight so we can play again tomorrow. I've also shown a photo of the new rocket.
The design came from a special "Ask This Old House show and is really easy to make and other than the compressor will cost less than $10 for everything you need. I made the fins from 1/4" foam core and the nose is from a 3" thick block of foam.