I usually don't wander in here but this thread is pretty relevant to my interests.
Pat, you asked what gear and rigs are needed. First is a decent DSLR for shooting the video with decent lens. Most of that could have been done with a kit lens but shallow depth of field requires a lens that can really open up. A cheap 50mm "pancake" will work fine there.
I saw a bit of dolly & boom work done in that first video. These can be quite expensive but I'm working on some DIY versions.
Another effect is using a slider. I did a little DIY version in this video but I'm refining it to make it smoother as the jerkyness is too visible.
The rest is up to your creativity and lots, and I mean LOTS of editing room time. There are a lot of subtle things that you do in post production to really bring up the viewing pleasure on a video.
This was just a proof of concept video I put together to test several different effects including time lapse, on car rig, slider, shallow depth of field and generally managing the settings on my panasonic GH2.
I'm glad to see that people are really interested in video beyond just the action shots. I'm always trying to figure out how to capture not only the action, but the love we have for our cars and what we do with them. Capturing the passion and deep connection we have with our cars is actually really hard. The general public wouldn't understand our obsession.