The new patch v1.01 for Codemasters F1 2010 game allows you to save your replays in .f1player format and replay them at your leisure.
Heres how you do it:
This is exactly how it should look in the target path box:
"C:\Program Files\Codemasters\F1 2010\f1_2010.exe" -savereplay
"C:\Program Files\Codemasters\F1 2010\f1_2010.exe" -replayui
The only space is after the .exe" and before -savereplay and -replayui