Germany's Werner Mehl has developed the PVM-21 infrared chronograph, an incredibly advanced ballistic speed-measuring system.
From the blog Accurate Shooter:
"Werner has engineered camera and lighting systems that can literally track a bullet in flight, millimeter by millimeter, with eye-popping resolution. Werner employs digital cameras that record up to 1 million frames per second, with effective shutter speeds as fast as 1.5 nano-seconds."
Check out the video below to see it in action. For more high-speed gun videos, click through.
Edit: Also, check out these clips from itronx shot with a 200,000,000 FPS camera.