really? is this really what people want?
Ive never understood the point in watching replays in racing games, nevermind FPS
The only way I would find this entertaining is if your game is always recording and you could hit a couple of buttons to auto save the last 40 seconds or so, after you finish your game you can go back edit a fully 3D replay of e.g. a kill in COD.
You could have a clip following the bullet, then slowly zoom out swinging 90' to see the bullet take your down your target (headshot). Once you have finished editing, upload to e.g youtube, tagging your self and the person you take out in the video.
Would only be something I would do every now and again. Short clips are a good idea, but watching back a full online match 10/15minutes long... Id rather just play another match.