This 3/4-framed action shot is exactly what I was looking for: a tight crop, blur in the wheel spokes but sharp rider and bike. I used a low ISO (100) so I could keep the aperture open (f/4) and the shutter speed at 1/500th.
The image is uncorrected, but could probably benefit from a tweak to the contrast and sharpening.
Caon 1DMk2, 300mm f/2.8 IS @ f/4, 1/500th, handheld.