This could have been a masterpiece of the final years of the Golden Era of sports-car racing, which reached its glorious but all-too-short culmination in the unintended consequences of the FIA/CSI's typically fat-headed re-write, in an effort to reduce speeds (that had been as high as 215-220mph at high-speed tracks like Le Mans, Daytona, and Spa), of the Group 4 Sports Car and Group 6 Prototype homologation rules, due to take effect in 1970. The CSI believed no team would spend the money to build anything but race-modified production sports cars to meet the 25-car minimum necessary for homologation in Group 5.
This supposition blew up in their faces when Porsche, in March 1969, introduced the most outrageous, esoteric, and glorious sports car of its time, and, perhaps, of all time, the pure-racing-car flat-12-cylinder Porsche 917, and they built the 25 necessary. Ferrari had to follow suit to stand any chance of winning anything, and responded with their ALMOST equally fantastic V-12 512S. The two years these cars ran, 1970 and 1971, that passed before the CSI could implement new rules, still stand as the summit of sports car racing. It is these years, and some of 1972, that Keyser attempts to sketch in 1972's "The Speed Merchants."
While the documentary has much to recommend it, including low-key and intelligent narration by two giants of the period, Mario Andretti and Vic Elford, the movie suffers badly from a couple of dated cinematic conventions of the time: choppy, "hip" montage editing that throws narrative continuity out the window, and the dreaded "French Jazz Racing Movie Soundtrack," which is also the curse of McQueen's contemporary, fictional "Le Mans."
No sports car racing fan should be without this movie, but it could have been SO much better, and should have been completely overhauled, adding footage and ditching the dreary music, during its remastering in 1999. Pity.