I was messing around and thought it would be nice if, in addition to the "follow" view mode that there was a way to have the camera continuously look at a target. I like to spectate AIs with mod cars and the TV cams I find are too "zoomed in" but setting up a high camera (to simulate a "blimp" with a low FOV) provides a nice spectating experience.
I know this is a low priority improvement but I think it would be kind of nice. Further to this is the ability for it to be intelligent so if you're looking at a car that's near other cars, it would do its best to frame "the group" of cars rather than focus just on the one car.