The point of using an automatic exposure mode in action photography is to get a good,solid, fundamentally correct exposure, and not one that is four or five stops underexposed; that is what happens when one "runs out of f/stop". I was attempting to answer Nate's specific question about shooting action photos using Tv (as Canon calls it) or Shutter Priority automatic.
One of the goals in sports photography is to freeze action,and to focus the attention mostly on the action itself, and not on the background. I do not quite understand why Nate did not understand that the photographer will deliberately CHOOSE or select his ISO value...I mean, that is one of the very first things one does: continuous lighting exposure is a three-part equation: ISO value and Intensity (f/stop) x Time (shutter speed)....so, the first thing the photographer does is to evaluate the light level and select the proper ISO for the prevailing conditions: ISO 100 in the Texas Gulf Coast in August is fine at noon; at 5:45 PM in Seattle, Washington in March or April, the starting ISO will be from 1,000 to 2,400, given "real-world" equipment like a 70-200 f/2.8, or 300/2.8 lens; those who have 70-300 f/4~5.6 variable aperture lenses will themselves, choose or select the starting ISO at the beginning of the shooting session, and revise it as needed.
"Running out of f/stop" can easily happen with a variable aperture lens, like a 70-300 f/4~5.6 or other slow-ish lens. It can also happen, big-time, when the action moves from sunlight into shade, or in cloudy-bright conditions where the sun is playing peek-a-boo with rainclouds during much of the year. In Aperture Priority mode, with a little bit of an ISO cushion, an actual sports photographer realizes that he can "buy speed" by boosting his ISO setting up; in good,bright light or with a FF camera, there is almost no penalty to using ISO 800 or 1000, or now, ISO 3200; if the sun is out and the EV value is high, 3,200 looks good, with almost no noise whatsoever; if the action goes from full sunlight and into deep shade, there is still not much of a penalty at the elevated ISO settings, and since there is an ISO "cushion" that the photographer decided upon, based on the prevailing conditions, using Av mode, the photographer will ALWAYS get the fastest shutter speed possible AND a consistent depth of field when shooting in Av mode; this is not true in Tv mode.
The consistent depth of field one gets when in Av mode can be important because on the margins, DOF is sometimes pretty valuable as a safety factor on action that is hard to focus on; shooting wide-open at 300mm at f/2.8 gives almost no room for focusing error, but dialing the ISO higher, say from 200 to 800 on a good-light day, can give the photographer the option of setting and locking-in an aperture of say f/5; that will give a safety margin of focus to cover potential focusing errors. Even shifting from f/2.8 to f/3.5 with a 300mm lens is enought to give just a little bit of a safety margin for missed focus...the DOF safety margin gained by stopping down a bit is made possible by elevating the ISO a scant few clicks....and then moving the ISO another two or three third-stops to "buy shutter speed". The photographer needs to pick his ISO setting--it is a fundamental decision!
When using a long lens and when focusing is absolutely critical, the thing to do is elevate the ISO speed, pick a specific f/stop, and allow the camera to adjust the shutter speed from your absolute *minimum*, like say 1/1000, up to a higher speed, like say 1/5000. That way you will always get the right exposure and not an underexposure, you will get the DOF needed for both background control and any DOF safety margin needed to cover slight mis-focusing, and you will never suddenly find yourself in Tv mode looking at an LCD with a bunch of five-stop underexposed images...When one "runs out of f/stop" the result is underexposed images.
As stated, this type of situation is why AUTO ISO was invented.