OK, I know that supper high frame rate photography is all the rage right now, but I think some big brains over at MIT have certainly won the FPS wars... sorry Phantom, a TRILLION FPS is gonna be hard to beat!
Impressed by seeing a bullet pierce an apple? How about the moment a water ballon pops? I bet you've never seen light move before! On the left you are looking at waves of photons passing over a surface, yes it's fast enough to see light move.
I predict 3 to 5 years before this is used in the Jack Ass series.
More info here
Here is a brief TED Talk that describes the technique in detail.