In sports and action photography, capturing the decisive moment of the action is most important. High framing rate of a modern DSLR greatly helps in this respect. Having said this, there is a fine balance between capturing an interesting moment and shooting too much during a sports event.
I find that sometimes it is better to stop shooting, look up from the viewfinder and just observe the athletes, the venue, the spectators, the referees, etc. Doing so calibrates my overall experience of the event and provides the necessary pause to decide what would be the best subject, the lens, the viewing angle, etc. to convey my impression of the game to the viewer of the resulting photograph. By the way, I think that the impression of the event photographer is inherently valuable, if only for the unique proximity to the action that this position provides.
This balance between shooting and observing has some parallels to the larger issue of presence over productivity, which has been raised by many authors (e.g. Anne Dillard in her “The Writing Life.”) I personally find that so much value is presently placed on action, that it is easy to miss the point, when the action becomes mindless and the original intent of it is lost.