What I have read in many sources is that once bullets get beyond about 2,200 fps they start to have an "explosive" impact on flesh from their speed alone.
Partially true. Somewhere in the 2,000 to 2,500 fps range is a threshold at which standard construction softpoints start to fragment. The combination of fragmentation and relatively large temporary cavity have a synergistic effect; the fragments make multiple small holes, then the temporary cavity is able to tear the tissue much more easily.
For instance, if you compare
this picture with
this one, you can see that the maximum diameter of the temporary cavities is about the same (a bit under 8" for the FMJ, around 9" for the softpoint), but the fragmenting bullet makes a
much larger permanent cavity. You can also see that while
this .30-30 at 2017 fps created quite a large temporary cavity (a little more than 6") and did fragment a bit, there just weren't enough fragments to cause an "explosive" effect like the .308.
Testing in actual living tissue has borne this difference out. Click
here, and download the article entitled "Bullet Fragmentation: A Major Cause of Tissue Disruption" (third one down). On the third page, you can see photos of cross-sections of thigh tissue of a piggie. It may be a bit hard to tell, but that tiny little white spot in each of the three top pieces of meat is all the bullet hole you get with nonfragmenting, non-expanding ammo.