Track IR basically just sets F8 mode (pan) and then presses the numpad keys to scroll around. Only it does it with head motion.
So if you check recorded views, those "keypresses" are still there. It still says "move left, move left, move left, stop, stop, move up, move up" etc etc...
EDIT: Also, as Schatzi said I've also seen films that used it but I don't have it, so it works.