Jim and his son Sam attended the launch of the new race meeting at The Hedges Restaurant near Stranocum last Tuesday where they were joined by road racers Ryan Farquhar and John Burrows plus Ballymoney competitors Victor Gilmore and James McCann.
Formed in the mid-seventies, the fabled Armoy Armada - consisting of Frank Kennedy, Jim and Joey Dunlop and Mervyn Robinson - collectively raised the profile of real road racing to an unprecedented level and their rivalry with the 'Dromara Destroyers' became the stuff of legend.
The unique history of the small village in Co Antrim and its proud link with the 'Armada' has created a huge wave of anticipation and excitement ahead of the first Armoy Road Races in August.
It also emerged that the Armoy meeting constitutes the first all-new road race in Ulster in over 50 years, given that the recently revived Bush meeting in Co Tyrone ran previously in 1927, when it was then known as the Dungannon 100.
Speaking at the event yesterday, Jim Dunlop - who will flag away the Centra Ballymoney 250cc race - the first event on the programme on August 8 - said: "It means a lot to the people of Armoy to have a road race here. There was always talk about a race in Armoy, and it just goes to show what people can do when they put their minds to it."
Jim, who achieved many national short circuit victories and road race successes during his career, retired from competitive action in 1982 and is the sole surviving member of the 'Armada' following the tragic deaths of Frank Kennedy, Mervyn Robinson and Joey Dunlop.
"There was a lot of racing going on in the family at the time, but not enough dough to go around," he added.
"You were always promised good bikes, but you never got them in the end. I just decided I'd had enough and that was it."
Jim recalled the unofficial practice sessions that used to take place on the roads around Armoy village when the 'Armada' put their machines through their paces ahead of race day.
"I remember coming across a lorry one day and I was never as glad to get stopped in all my life."
Coleraine Skip Hire and Recycling, headed by local man Packie Laverty, was confirmed as the main sponsor of the event, which serves as the finale to the Ulster Road Racing Championships.
"I've followed road racing for many years and personally knew three members of the group – Joey, Frank and Mervyn," Packie said.
"It's wonderful that this new event celebrates their fantastic accomplishments and is a fitting tribute to the three racers who are no longer with us. I'd like to congratulate the club on their achievements to date and wish them the very best for August 8."
Billed as the 'Race of Legends,' the Armoy meeting aims to recapture some of the fervour and nostalgia of those heady days in the seventies.
The organisers have already signed a host of top competitors, including William and Michael Dunlop, Ryan Farquhar, Adrian Archibald, Keith Amor, Gary Johnson, Carl Rennie, John Burrows, Sam Dunlop and Czech ace Michal Dopukil.
Roads are scheduled to close at 10am on race day, Saturday, August 8, re-opening no later than 7.30pm. A total of 10 races are on the card.