It seems pilots nowadays need to get in touch with their roots. I think most have no idea what a dare devilish profession an aviator's used to be. This guy/girl is nothing more than a throw back to the early days of on the road flying shows and barn stormers; unfortunately trapped in today's RJ/SJS/Autopilot/Autothrottle laden world. I think this video is more evidence of this person's stick and rudder skills than a violation. Now let's go crawl behind our bullet-proof cockpit doors and sip our lattes.
This isn't 1925.
If this guy did this in an appropriate area and in an appropriate airplane, by all means.
Otherwise, he's just an idiot.
What's so spectacular about this guys airmanship anyway? Nothing.