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Gary McCoy will always be near and dear to our hearts for his exhibitions of manual traction control, but Casey Stoner made a strong showing for second place in this category while at Phillip Island this weekend.

Sliding his way around the Australian track, Stoner put on not only a show for his home crowd, but also did it with champion Valentino Rossi in tow. We’ll let you decide who is the reigning King of Swerve and Sultan of Slide. Videos of both Stoner and McCoy after the jump.

With good race action distracting specators from the looming wet weather at Phillip Island, the Australian GP proved to be another decisive step in the MotoGP Championship. An early “rubbing is racing” moment, could very well have shaped the the way this season will finish, but with racing still to occur at Sepang, Malaysia and Valencia, Spain, no one is declaring victory just yet. Click past the jump for spoilers and a full race report.

UPDATE 2: Get the latest news on the 2010 Ducati Multistrada 1200 here.

UPDATE: Ducati has officially announced the Multistrada 1200 name, no word on model variations.

The usually accurate folks at SoloMoto have broken an interesting plot twist to the ever unfolding drama of the soon to be released Stradaperta, and that is the bike is to be called instead the Multistrada 1200. Taking the nomenclature of the machine it replaces, Ducati is allegedly hoping to build of the reputation and brand that the Multistrada motorcycle has made in the industry. With this break, also comes news that four variations of the motorcycle will be offered. More on that after the jump.

If you have time this weekend, you might want to take a stop by your local Buell dealer for a screaming deal. We just got this photo sent to us via A&R Streetlevel, and after calling a few shops in the SF/Bay Area we’ve heard some great prices and negotiating salesman on the other end of the phone. We’ve even heard of deals as low at $3,995 for an 1125CR. At that price, it doesn’t matter if Harley-Davidson honors Buell’s warranties, you can by enough parts bikes to your heart’s content.

MotoGP action comes from the land down under this weekend, taking to the Australian track of Phillip Island. Treading on the home turf of Casey Stoner, fans will surely be treated to some good racing from the come-back kid. Stoner will have to show his strength has returned though, as both Valentino Rossi and Jorge Lorenzo are looking for as many Championship points now that the MotoGP is getting closer to its conclusion.

Watch out Mission Motors, electric motorcycle manufacturer Lightning Motorcycles is gunning for you. This week at the SCTA World Finals at the Bonneville Salt Flats, the Lightning’s pre-production prototype set a speed of 166.388 mph. While only completing a single pass down the salt flats, and not a return journey to make an official speed entry, 166 mph is still an impressive mark, and has provided the company with crucial information as they get ready to go commercial in 2010. Photos and more after the jump.

Most of the internet is still abuzz over the news of Buell’s demise (don’t worry, your friends who read print magazines will hear the news in a month or two), but for the people at MV Agusta, right now is perhaps even more precarious because their future is uncertain. Harley-Davidson’s decision to circle the wagons around the HD brand, meant for MV that they would once again be up for auction to the highest bidder. This timing perhaps comes at the absolute worst moment, as the Italian brand was finally having to come to terms with how it would move forward as a company without Massimo Tamburini inking the designs.

What do you do when the financial arm of your company goes from making $100 million a year to losing $100 million a year? Why you kill off two other brands in your company of course. That is the move the Keith Wandell and the Harley-Davidson board of directors made yesterday with their announcement of shutting down Buell, and selling off MV Agusta. Realizing that the Harley-Davidson brand accounts for the majority of Harley-Davidson Inc.’s income, Harley-Davidson executives saw there being little choice but to sacrifice its other two holdings to save their namesake.

In conjunction with Harley-Davidson’s Q3 financial results, and shutting down of Buell Motorcycles, the Milwaukee motorcycle manufacturer is announcing that it will be selling Italian sportbike manufacturer MV Agusta.

Harley-Davidson bought MV Agusta just under a year ago, and assumed a substantial amount of debt from the beleaguered company. This past quarter, Harley-Davidson recorded a one-time fixed-asset impairment charge of $14.2 million related to Buell and a goodwill impairment charge of $18.9 million related to MV Agusta.