I trying to figure out how Paco plays runs SO fast. I realise flamenco guitars have very low action etc, but does he use 3 right hand fingers in some way apart from a normal tremelo?..
He uses imim picado, basically rest stroke with more attack angle, pushing the string towards the soundboard. No magic here, just 8 hours of practice a day (as claimed by himself), combined with natural talent.

Sure they have low action, but nowhere as low as an electric guitar. No doubt that flamenco technique like PdL's is tons harder to train that shred guitar.
Yes that's what he claimed. So before anyone starts making comments abt him like 'he has all the luck', ask yourself whether you have the determination to sit through 8 HOURS of SOLID CONCENTRATED practice EVERYDAY. If no, then it's no surprise you can't compare to him technically.
My guitar teacher, one of the best classical guitar players in Israel, Yaron Hasson, had practiced 10 hours a day when he did his classical guitar degree in the Royal College in London. It's amazing!!! He plays wonderful, wish I had all that time to play...
strat player forever.
I saw Paco recently and his version of Cepa Andaluza isnt what it once was. Young mans game flamenco shredding!.
I practice 7 hours a day, although that's the electric guitar. I also have a timed schedule that makes it not seem to take so long (I have breaks of course as well). There are a lot of one and two string picking excercises you can do, mostly just repeating runs of major and minor scales on the e and b strings. You can look some up, because I'm no good at code on here.