All things are relative. Therefore, although at nearly the same speed, the tracer-round flying toward you will appear to be a thousand times faster

than those in the video fired away from the camera. :sleep_125
Similarily, flying supersonic at altitude always seems extremely slow relative to the ground, but always fast nevertheless.
Likewise tracers, and like any fired ballistic round, they are still subject to gravity. So if those rounds were traversing as "slow" as they appear, wouldn't they be falling to the ground already, too?
To truly judge a tracer's relative speed without instrumentation, I suggest standing at night in front of a long burst. It will be your last learning experience, but yet permanently instructive nevertheless.
Tracers at night are always deceptive, and sometimes mesmerizing. It all depends upon your perspective – Although at a same given fps (always fast as a speeding bullet, night or day, and lethal) the tracers will appear to be in slow motion when seen at a distance. But they will appear ever far faster as one draws closer; and exponentially faster as one becomes the target!


Great
f'n fast tracer vid here:
http://www.youtube.com/user/flite11
Have I mentioned before that I like guns? :icon_tong