Nice write-up.
Instead of these photo-finish cameras, would a piezoelectric sensor strip on the road (plus perhaps a regular camera) be a better solution to judge the winner in such cases?
I was thinking about this problem too, and realized that the photo-finish also provides placings for all the other contestants. Some other type of sensor might be able to more accurately place who was first, but could struggle greatly differentiating the pack of contestants behind them.