Its all about finding the sweet spot between speed, durability, and comfort. I don't care how fast a bow shoots, if I feel my shoulder letting go when I draw it, or if it slaps my wrist everytime I'm probably going to leave it on the rack and opt for a more comfortable bow. If its too slow, I'm probably never going to use it in a real hunting situation which is always my goal for every bow I build. And if its not durable I'm probably only going to get to use it a few times.
But if we're talking exclusively about speed, I would guess that a short, bendy handle, reflexed, sinew backed, pyramid design with recurves or flipped tips, and a tempered belly would make for a screamer. And then you need to find a stave that can handle it all, which is easier said than done.
Also you would probably do well to leave out any tip overlays. They probably don't add enough weight at the tips to notice on most regular bows, but I bet its measurable on a racing bow. You want those limbs to throw forward as little weight as possible.