Liked it, but a few suggestions-
1) Turn off icons. A whole lot of unreadable screen clutter.
2) Go into your fraps settings and turn off the cursor. Very distracting.
3) Less in-cockpit view (very shaky), more external or chase view. Especially chase view. Makes the plane look more lively and mobile when it seems to be moving a few seconds ahead of the chase camera.
4) Try to tell a story, or at least explain what kind of footage the film is made from. I spent at least 2 minutes waiting for you to shoot something before I realised it was an Air Race.

5) Have more footage in "zoom" view, until you did I couldn't tell that the planes in front of you were Hellcats too.
6) Larger screen. Very hard to see.
7) Try to sync up the film with the music a bit more. Was fun to watch, but its more entertaining (at least to me) when its more like a music video than a video with music.
Pretty good first try, I liked it
