I have also started on my UFO project, using the Pegasus Hobbies Alpha Centauri UFO I recently bought. The plan is to make an imaginary "Nazi UFO". The inspiration comes from the movie Iron Sky (a comedy about nazis on the moon...check out the trailers on youtube). There is also a myth (?) about germans making a flying saucer and having established a base for it on the Arctic during the war, called project Haunebu.
I have scratchbuilt part of the cockpit by using parts of an old Me-262 double seated night fighter model that was wrecked since before. The two round "engine parts" that are under the seats are made from left-over Sherman tank wheels in scale 1/35. The unpainted pilot fig is from Revell.