Admittedly, attempting speed ascents of mountaineering peaks on skis is a niche sport right now typically practiced by skimo racers worldwide. Numerous records are set in the Alps each season and have been for years. But similar practices in North America are just starting to be more common.
Andy and Jason following their attempt Spring 2012Athletes in all the great ranges are pursuing various traverses in Canada and peak ascents/descents in the States. Each range has their test pieces. Mount Rainier in Washington has been the recent objective for several ski alpinists in the last two seasons. Brothers Andy and Jason Dorais started the recent trend on Rainier late last season with a “roughly” 5-hour car-to-car effort. I say roughly because heavy fog thwarted their efforts at the end causing a major route finding detour impacting their finishing time. That said, their effort provided a starting point for future attempts. Details can be found here.
Eric and Stano suited up and ready to roll, Spring 2013A couple of weeks ago, Eric Carter, Stano Faban and Nick Elson from Vancouver had a go and destroyed the record in 4:19. Like the Dorais, they carried avy gear and crevasse rescue equipment. Both parties admit that with fore knowledge of route conditions, they would be willing to shed all unnecessary equipment to lighten up and go faster.
Upon hearing the news, Andy and Jason starting shaking in anticipation of their upcoming attempt. Late season snow high on the mountain will probably dictate a heavier burden of gear than they would like but they plan on having a go nonetheless.
Andy high on Rainier, 2012As these efforts gain the attention of the skimo community at large, I’m sure others will step up and throw down in similar fashion. I think a few simple rules have been established by these early attempts. Starting point is the Paradise parking lot. The traditional Disappointment Cleaver route is the course. Gear choice is based upon the risk tolerance of the skiers. Whatever is in your pack at the start should be there at the finish, food and water excluded, obviously.
I think the style of these efforts will quickly distill down to race skis and boots and, likely, Lycra race suits. It's funny that the North American ski mountaineering community in general laughs at these outfits but they're actually quite functional for this sort of thing. There's nothing pretty about descending on race equipment but foot weight is so critical that no serious time will be established on anything but the lightest skis and boots. It's interesting to note that Elson sported no suit and heavier boots than the others. 
Nick Elson looking like a climber but skinning like a skimo racer.I contend that he will easily shave 10-15 minutes off his current best when equipped appropriately.
Now, I can hear the grumbling of less time-minded skiers out there. All I can say is that mountaineers and, now, skiers have been timing themselves climbing and skiing up and down mountains for as long as people have been going into the hills. As I've always said, the speed game is not for everyone. If it doesn't interest you then don't play. But be sure to kindly get out of the way when one of these mouth breathers comes smoking up your ass. A friendly "Allez, allez!" would be nice as they storm by.
UPDATE
As I suspected, the Dorais brothers destroyed the latest best time of 4:19, taking it down to 3:57:55. As opposed to their first effort last year, they actually had a few days on the mountain to settle in and rest appropriately while taking in the lower part of the mountain on casual ski days. But with a return to work looming and conditions nearly perfect, they set off this morning and got it done. I'll save the details for them to divulge. With big chunks of time being cleaved off these FKTs, it's clear that we're only scratching the surface of what can be done. That said, for the DC route, I don't think their are many skiers who will go faster. Like Dane says below, focus should turn to a more elegant, direct route and drop the time further. Chapeau!