High-speed chases are a real problem. If you have a policy never to chase, then you will get more reckless drivers trying to run. But if you chase, you often become a reckless driver yourself.
When an innocent third party suffers property damage or personal injury, the cops always blame the runner. This is true even when it is the cops who hit something. Our laws put the liability on the runner, so the cops don't have to pay. And since a lot of the speeders are turnips, you may be SOL if you don't have good insurance yourself.
But even when the bad guy crashes into someone, it is usually the chase that caused the accident. If the cops had not been chasing, in most cases, there would have been no crash.
If the only crime, therefore, is speeding/reckless driving, I tend to favor letting a runner go, especially if you have captured their license plate on video. But when armed robbery, kidnapping, murder, etc. is involved, chasing is almost certainly warranted.
As for the Arkansas police, they scare the hell out me, much more than 99.9% of the speeders out there. In this case, it appeared to me that both the cop and the bad guy were out-of-control reckless, running through a business district at well over 100 mph.
Incidentally, this officer had several good, close-up looks at the plate, two of which can be seen at the 3:11 mark and 4:00 mark. He could have called off the pursuit right there.