I think kittens are just the most delightful creatures and absolutely impossible to figure out! Actually the behavior you describe is completely normal. I have only had two cats in my life and they are older now but were exactly the way you describe your little one when they were his age. They still occasionally will race through the house like someone is chasing them but of course it's only in their imaginations. Even the biting is not unusual for a kitten. My first cat never bit but my second cat made up for it. It was quite annoying for a while but fortunately that too passes. My advice is just to sit back, relax and enjoy it. They are kittens for such a short time and kittenhood is just such a fun time!