A suggestion while watching the video. Is is possible to "trigger" a time log of sorts when a waypoint/objective is reached? If not, an alternative could be to use /setmsg X "Lap completed" . Then quickly system shout the message when waypoint is completed. Grab the DSAce.log for timestamp (only up to second accuracy though). Wonder if one could chain setmsg with /time?
Secondly, for tracking race start-time, is it feasible for a player to type "/time" then immediately Shift-W to engage cruise right at race start?
Note that the options above are still fallible and best efforts at compromise.