it is... ehm, a nice idea, but the speed of burnout is missing... hmm...
first you should use Shift+F to get a clean video. A speedo is not that important for the beginnig. To get a better framerate you should whatch your graphical settings.
to get the speed you should play abit with the camera settings, and smoothly zoom out so that the raw speed fits. Then you could use a medium blur effect to make it Burnout like. When you want to visualizise a Takedown, you should change to the TV cam and use a slowmotion. Maybe you could make and use some graphics to simulate the Burnout overlays.
Please make the music more dominant then your (strange) car noise.
And don't hop from car to car!
To avoid the chat you have to change your cfg i think. I don't know where exactly. But when you spend some time with capturing good footage and following some advises, you the video can be better.
oh and PS: 3 mins are enough!