Well here is the first vid I have seen with the replay feature.
Looks like there are 3 diff cameras you can cycle through. 3rd person, 1st person and hood.
In 3rd person you can swivel the camera around the truck. in 1st person you can maybe look around the cab?
Confirmed you can rewind to certain race points. Not too bad. I can deal with that, Kinda like Halo Reach.
Confirmed you can hide the interface as well, YES!
This guy did not utilize it they way I will. I cant wait to make some vids!