There is vertical motion with runners, but no idea if IS would affect that. I've taken 1000s of photos of
runners with a 40D using AI-Servo and a 70-200 non-IS lens with excellent results. However it took awhile
to realize that fully extended to 200mm the results were not quite as sharp. Perhaps the weak spot of the
lens so I try to use slight less than 200mm.
Shutter speed sounds high enough. Is there a place where you could practice on traffic doing without IS
and then again with different IS settings to see if there is a pattern? AI-Servo works well, with a 40D. If I
take five shots, generally, all will be in focus.