We present characterization results for a 5 million pixel CMOS image sensor designed for high speed applications. This sensor is capable of outputting 14 frames per second and incorporates on-chip 12-bit digitization. We present measurements of system gain, read noise, dark current, charge capacity, linearity, photo response non-uniformity, defects, and quantum efficiency. The image sensor incorporates exposure control functionality, windowing, on-chip binning, anti-blooming capability and rolling shutter architecture to implement image capture mode. The results show a favorable aspect of the ability to achieve high speed, high resolution, and very good sensitivity in a monolithic CMOS sensor. Architecture trades for high speed imaging systems utilizing CCDs and CMOS sensors are also presented.