Wreckless is a good example of how not to do replays. If a game developer is going to copy Gran Turismo 3 style replays, maybe the developer should focus on why those are nice to look at. Even Ridge Racer V has better replays.

Some of the more obvious wrongs:

1. Cars, buses, buildings, signs, and pretty much anything else in the game obscures your car more than 80% of the time.
2. Camera zoomed in so only your car is the only vehicle visible on screen.
3. Overuse of "bouncy/rotating" camera. For some reason game developers think bouncing the camera around during replays is a good thing to do. It is not. This is a trend that has to stop. It is bad enough it started with those Dockers commercials.
4. Gimmicky/useless filters. It's like the developers just discovered Photoshop's filter function, never having seen it before this time.