Valve just released their new replay feature in TF2, so I decided to go check it out. Turns out the server needs to have the replay ability enabled. Also, it only works while you are alive, so timing issues are bound to prop up. Also, QuickTime is required before using it.
When you are finished, head over to the replay section and decide what takes you want and your render settings. On my 3.4 GHz i7, 3x nVidia GeForce 580 GTX 1.5 TB, 1 TB SSD hard disk, and 24 GB memory, it took ~19 min to complete the render.
Once done, you have option to submit it to youtube if you wish. Here is what I submitted as a test of this: