I'm watching "Faster" right now for what has to be well over the 200th time and its still awesome. On Any Sunday is a good one too, granted both of those are more documentaries than "movies" but they're great enough for that detail to be irrelevant IMO.
"On Any Sunday" is my all time favorite cycle flick. It gives a pretty good, though now somewhat outdated, all around view of cycling. I've watched it so many times that I think the laser in my DVD player should be cutting it's way though the disk any day now. A lighthearted look at bikes that is good for the whole family.
I've heard good things about "Faster" but have not yet seen it. It is on my list to aquire and see.
"Easyriders" is also a long time favorite. I used to ride with a couple of guys who seemed to be stamped out of the mold used for this film. Pretty cool.
"The World's Fastest Indian" (stars Anthony Hopkins) is a great flick. It's based on a true story about an old fart from New Zealand trying to set the world land speed record on a Frankenstein'ed Indian.
Certainly not for everyone and not very fast paced but worth seeing.
"The Doctor, the Tornado, and the Kentucky Kid" (pretty much a sequel to "Faster"). Documentary style flick about a handful of hot young GP riders (Hayden, Edwards, Rossi) getting ready for and then running a MotoGP at Laguna Seca in 2005. Some cool footage shot from on bike cameras mixed in.
Enjoy