It's no accident that the first video made using Grand Theft Auto V's [official site] new PC replay editor is well-shot and edited, since it was commissioned specifically by Rockstar to show off the power of the new tool. You can watch it below: it's called Running, Man, it's about Trevor going for a jog, and I've included another recent trailer which explains the abilities of the Replay Editor that you can use for yourself as soon as your copy of the game finishes download.
Here's Running, Man, which was made by YouTube team 8-Bit Bastard at Rockstar's request. There's no dialogue, only running - and fancy lighting and scenery and camera angles along the way.
And here's Rockstar's trailer for the Replay Editor, which explains how you can edit clips yourself to create something similar:
The Replay Editor was my favourite part of Grand Theft Auto IV, because it took the chicanery of the free-roam multiplayer mode and gave it lasting meaning. I spent an unreasonable number of hours messing around with friends in one, but spent probably twice as long in the editor then turning those moments into poorly crafted short films.
The new Replay Editor looks similar as far as its interface and basic capabilities goes, but goes further in your ability to control the world via a new Director Mode, allowing you to add characters and animals, tweak the weather and lighting, and modify certain elements of the game in order to better tell your story. I hope to spend twice as long with this than I do with the singleplayer missions.
Of course, that's if it ever finishes downloading. I pre-loaded GTAV and it came to rest at 99.9%. That final 0.1% has been downloading for 38 minutes and has 9 more minutes to go.