I completely understand what SCOTUS has stated, and the relevant case-law, believe me when I say I am very familiar with this.
I have personally seen this occur in my PD, as well as others locally. Officer's doing exactly what case-laws says they were supposed to, which ended up with them being charged with homicide and never getting their jobs back, even if they happened to beat the case (one didn't actually beat the case, he's in jail).
My point has been that chasing a guy for a hit and run, especially when you know his license plate number, and in effect creating a situation where you chasing the guy (who did not commit any violent or force-able felony) is becoming dangerous to the community, is very shortsighted.
I understand that this may be completely legit in some places, what I have said is that it is not legit in large PD's/cities. This particular situation is one where I wouldn't even attempt to chase, nor would I advise any other officers to do so either.