I saw this article from a group that I am a member of. What a great idea. Some old roller equipment and a low-tech speedometer. What a great event to go to, I would love to watch this in a local GR environment.
http://www.nytimes.com/2011/12/25/nyregion/cyclists-race-in-bars-going-nowhere-fast-spokes.html?_r=3
Here is a video of one of the final races. Check out the speed they are turning at.