Slapshot,
Alt-R in game toggles video recorder on and off. I then go back and view my video using the "Film" button when you first enter Aces High (don't go online or offline flying.) When you view it, you can use all the external views you wish and I typically turn off icons for (what I think are) better pictures. One thing I recently discovered is watching my flights using the F5 view, then F8 so I can pan smoothly and turning on the Trails. Way cool that view!
I made the pics above smaller so none of the slower connects chokes trying to view them. The larger versions are even better and clearer.