At certain points later in a rack (it varies as you progress in the game) the red ghost will suddenly speed up. Contrary to popular belief, all four ghosts start out going the same exact speed. It's only the order of the ghosts that make it seem like the red one goes faster.
However, later in any rack, the red ghost speeds up. At this point he is known as Cruise Elroy, named for the son of the Pacman marketing manager at Midway USA.
It's not important to know when Cruise Elroy rears his ugly head, but only to know that it does happen, and when it does, red is now faster than Pacman in a drag race. So be careful toward the end of your racks.
Cruise Elroy plays a prominant role in a successful implementation of the J-hook, but it's easy enough to work around.