Ryan Jerz has fantastic photos and a story from the Great Reno Balloon Race last week.
The most amazing thing to me about riding in the balloon is how quickly upon launch the view changes. Just a few feet off the ground makes everything look different. I could now see the shape of the mountains against the valley floor and almost immediately I was looking at the tops of other balloons readying themselves for flight. We were one of the first few in the air so we had it all to ourselves for a few minutes.
He also linked to a video from Mike Henderson of Twelve Horses.