Italian cars have, not unfairly, developed a reputation for catching fire from time to time, despite sporadic incursions from the Germans. But when they're modified, you can't blame the brand.
We're not even sure who's to blame here--the physics of an 1,800-plus-horsepower Gallardo seem like they'd require something to break occasionally, perhaps especially when pushing past 207 mph in less than half a mile.
Whatever the cause (an Underground Racing co-owner suggested it was a blown turbo), the result of the breakage was dramatic: voluminous flames trailing from the engine compartment at over 200 mph.
Fortunately the Underground Racing-modified Gallardo was outfitted with a fire suppression system which immediately put the fire out, saving the car to be repaired and run again. Hopefully the next build will be even cooler.