Nice google video of why it might be a good idea to wear a parachute if you happen to be pushing the physical limits of your airplane.
"Kevin Eldridge Bails out of the Super Corsair at the first annual Phoenix Air races. Notice he turns the plane away from the airshow crowd and points the plane at the ground before bailing out. You can bet his butt was getting really hot judging from the intense flames. The Super Corsair exploded upon impact, a sad loss. Kevin had minor injuries, but he is fine today. Announcer is Sandy Sanders"