The main wing airfoil is the NACA 23012. The bottom is a bit rounded compared to the semi-flat wings of the Cubs and such so it gives you that upside down look. That was one of Taylor's changes to make his airplane faster than the Pipers for the same horsepower. The 23012 was used on the Beech Bonanzaa and King Airs as well. It's claim to fame was that you usually could use a smaller tail with it and reduce drag a bit more.
I had a BC-12D taylorcraft years ago and it was somewhat faster than the Cubs but they could always get off shorter than my ship. And once in ground effect if the airspeed was a but high you would float and float along the runway.
Fond memories!
Thanks for that interesting info normb. That was something that always had me puzzled. You explained it very nicley.