That is cool! I have heard of 24" but never a 26 either from Huffy. The deal with the 26" BMX bikes was: They really only existed for ALL the brands in 1981. Huffy, King Sting, GT, Mongoose and Champion (might be forgetting a couple). I have not seen many from 1980 but form my understanding is GT made the first one that were truly single speed BMX dropouts and race geometry. By 1982 24" was the "race" standard for BMX. The King Sting was made in a single speed with BMX dropouts, and 5 and 10 speed with reverse drop outs with brazed cable guides. So that bike really doesn't fall into the race BMX frames for 81. I would bet this Huffy is a 81 and never seen one. I have had Pro Thunder's, Pro Lightings and the Super Thunder is a really cool bike! Not high end, not really high dollar but rare as can be.
The reason for the Arayas from all my findings from the 20" line is: the Red bikes and blue bikes differed a little in components but no big names parts - steel painted wheels and basic - the black bikes were the higher end components. Dia-Compe brakes, Aluminum bars, Araya Wheels and name brand tires. Keep Hold on to it, you are not going to find another one!