I made a small video to illustrate the issue I reported:

http://www.youtube.com/watch?v=mutWQBdRkUE

This is not a proper bug IMHO. The point is that any action (like performing a flight maneuvre or dropping bombs) that you initiate prior to recording will show incorrectly on NTRK tracks as well. So if you want to accurately record a dogfight, you have to start recording it upon contact with the enemy or at least before you get involved in proper dogfighting. Similarly, you have to record a bombing event from the initial phase of the bomb run or from the time before the first plane releases its bomb load to ensure a correct replay. That's all, I think. Cheers

I have already reported this bug in the bug thread when the patch just came out.

Weird... I still haven't seen that yet. I'll try doing something similar.