Sunchild,
Well, my biggest problem with the sport is just that the age seems to be a bit too young for the bone development. Eight Belles stood something like 17 hands, she was a big horse. And even if most of the injuries happen long before a day like this one... and are more commonly ligament related. It still causes me to stop a wonder about the bone development.
Did anybody hear what actually happened? Was it a mis-step after the finish, or something else? I saw Big Brown spook just after he turned around. But I never saw Eight Belles go down.
In regards to PETA, I have heard them make some good points on many aspects of this sport and others. But since they are such a radical fringe in my opinion, most of their arguements end up falling onto deaf ears. They can bring up issues about the training in this sport, and the rules that allow for such young horses to race. But when some of their members go out and throw red paint on people wearing fur, or stand outside a McDonalds shouting "meat is murder" as moms and kids are arriving to have a 'Happy Meal'... they lose all credibilty. I don't know if you said you are a member of that group or not. But they would need to fix their organization before they stand much of a chance of convincing change in other areas of our culture. IMO.