As much as I admire WalMart I would not buy a cheap bike for an e-bike project. The big issue is with the wheel bearings. I ride a Jamis Arragon I bought in 2000. I have replaced tires and I switched crank gears for a larger ratio with my fairing. Top quality pads and cables will give very good stopping power when properly adjusted. The regen will help slow you too. Legal speed is 20 mph with motor only. Rigging addition heat sinks might be possible. Paint the case white and a cooling mist for you could be arranged similar to water injection units.
Maxxis makes several tires that are e-bike rated but the popular Hookworm is big and strong. Stan's NoTubes system converts to a tubeless tire with half the rolling friction. See Mountain Bike News for articles and bike reviews. Also NYCElectric is a major dealer in electric bikes and posts reviews. The Bicycleman deals in electric kits and recumbents.
The fairing and tail box as in the low&slow motorcycle thread will help protect you from the elements and improve range.
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