I'm a bit confused, but I'll check your figures for the heck of it.
x=0.5*a*t^2
x = 80 [feet]
a = g = 32 [feet/second^2]
Therefore t = 2.24 [seconds]
v=a*t
v=71.68 [feet/second]
Divide by 5280 (feet per mile), Multiply by 3600 (seconds per hour)
v=48.87 [miles/hour]
That's a little shy of 50 mph, probably a hair less than calculated due to air resistance. If I wasn't so tired, I'd have done the algebraic manipulation in order to do it in fewer steps.