I do the same as horble, but I grab a bunch of different views from the film viewer. In the case of the divebombing I made a short copy of that section of the film (use the start, end and copy buttons in the top right of the viewer) Then I can run that section of film over and over so I dont 1 waste time going through the whole film each time because FF and rewind crashes the film viewer.
Once I have the short film I can then use shadow play to copy it from different views. In the dive bombing I would run once outside and chase, then an inside view, then and inside view zoomed in, then once from the outside and use the view keys to pick and hold a view with the best lighting (sun in the right to light the scean the best.
Then I have all these shadow play video and put them all in Devinci Resolve. I can edit them to he right size clicks and move them around to where I want/need them. I can adjust sounds there as well. Resolve can be as easy as you want it, or as powerful and complicated as you want. There are a lot of youtube videos on how to do things in resolve. Too me a couple hours to tie that pulsing red circle to stick to the spot where the GV was as the plane turned to line up.
At this point my issue is getting good film from the game that I can use. A half hour film might only give me 1 minute or 2 of video, but Im trying to tell a story where others are just trying to show their fight to the world.