I've got $100 that says this is...

[caboose56]

Me too. The hair on my arms was standing up the whole time.
Any info on what type of bike was used? Most likely a litre-bike of some sort is my guess.

There's a thread on the 10R forum stating that its a 3rd generation 10R.... but i don't know what that's based on.

 

[mma01]

This guy ran a 7'17 on a "conversatively" ridden lap with a modified 600 (335 lbs in street legal trim, 120 hp). He crashed before he he could go out for a full out lap. The rider had little race experience but lots of track knowledge (he is a control rider at the 'Ring). I would assume that the rider in the video posted by the OP is also a control rider as well rather than a racer.

http://my.sportbikeclub.com/_A-GSX-...s-and-Italian-Exotica/blog/1483483/46089.html

 

[strakka]

$5 on Richard Hammond, after some additional coaching from whatshername.

Couldn't be the Hamster. He didn't swerve out of control on the straights.

 

[SweetOnion]

Braking zone at 1:27 is awesome.