I'd like to see a feature you could enable or disable that would (when enabled) always save the last 2 or 3 minutes of every flight where you're killed. This is analogous to the the feature I've seen in other games (HALO and Call of Duty, perhaps) where just after being killed you get an instant replay from the killing player's POV of the killing shot. It would use the guncam feature, and perhaps there could be a pop up just after you're killed/crash/bail with option buttons for "View", "Save", and "Discard".
Now, I know you can simply use the gun camera feature to do this, but that requires you to manually activate it and to take the time to set up the replay. This would be a player setting to use it or not, and would overwrite each time, unless you actually selected "Save" to put the footage in a separate, named file.
To prevent clogging up your hard drive, it should be implemented as a rolling buffer. The whole point is to get an instant replay of how you were killed, and to learn from it.