I can confirm that 1/8000 is great for motorsports up real close though it does mean using a fast film (sensor) and lens combo (f/2.8 ISO1600 1/6400 in the shade). Minolta even did a couple of 1/12000 models, e.g. the 9.

I do prefer the panned slow-shutter approach (sharp vehicle, blurred background), though it has a much lower hit-rate and doesn't work with a rotating (pitching or rolling) vehicle and fails if they go over a bump at the wrong time.