I have learned a lot from many of the posts here, and my first hour or so with Flight has been promising. However, one feature that I've not seen referred to here, is the apparent lack of replay ability. I am wondering if the deletion of this feature is one of the reasons for the smooth performance of the simulation, so it may be a sensible tradeoff. However, I really enjoy replaying some of my flights, especially approaches and landings. This feature was best implemented in FS2004, where you could even reposition of point of observation. Just wondering if I am missing this feature, and are others also wishing it would be replaced?

Yes, it has been brought up numerous times during the beta testing by nearly everyone who actually participated.

This was one of the most asked-for features in the beta. The fact that it is missing from Flight is puzzling for sure, just as the missing feature to pause and still be able to take good screenshots. Seeing if this feature makes it into a future update will be a good gauge to see if MS is listening to anyone.