Major bump, as it something that i find really useful!
Maybe not when racing, but when cruising.
For example; when im on a cruise-server, i drive as much as i can in a row, i.e. i try to cover as much distance as possible without disconnecting. And when im parked over the night, i strangely enough, almost ALWAYS have a wrecked car when i get back to the game in the morning. And it would be nice to save the replay to check who it was that hit me. And as the server i drive on has a report feature on the forum where they like to see the replay, it really sucks that i have to disconnect from the game after every single saved replay, just so that i can save it again next time i need to show them something.