A “flying 200” (meters) at the Alpenrose Velodrome is used to seed cyclists who race in “sprints” on Fast Twitch Fridays. The flying part relates to the two laps you're given (over 500m) to get up to speed, so that you hit the timing/start line full on. (200 meters is about ¾ of a lap at Alpenrose.)
The hot-rodders (the real athletes) do this distance between 12 and 14 seconds. The record, I believe, is 11:34. My best time last year was a meandering 14:93. It took me all year to get there, as I was usually in the 15's.
Last Friday was my first “Fast Twitch Friday” of 2009, and my flying 200 time was 14:89. While still not fast, it nevertheless feels like an accomplishment.