Just came across this video from Motherboard (who have made some other cool drone videos) but this one is all about FPV Drone Racing. This video might just be the motivation you where looking for to buy yourself the new Vortex Miniquad from ImmersionRC
In my opinion mini quadcopter racing is currently one of the most fun use for quadcopters, and since you usually use mini quads to get the most agility means that regulations are also less important for these tiny beasts. But its still a good idea to make sure you dont fly around other people as one of these flying at full speed can still cause some damage! Fly Safe!