I saw morbid angel live last year and this guy doesn't just play fast for 1 min.  He did it for 45 min straight.  Ok this guy did a million beats in a mintue for a competetion but what good does that do in the real world?  I never saw a one minute concert.  Morbid angels drummer played fast as a rocket for 45 min straight.  As a drummer of 18 yrs, i could not do anything but stand there with my jaw dropped because i can play a lot of the stuff he does but not for 45 minutes straight. 

Also, i believe manowar made guiness book of records for the fast drums in a song in 1991.  I could be wrong.