I just wanted to say a big thank-you to the moviemakers out there for LockOn. I thouroghly enjoy watching these movies and showing them to others even at work.
Thanks again and if anyone can point me to a guide or starting area, I too will be trying to learn this craft and put out some movies myself for others to enjoy as a way of giving back to this community.

No guide and no starting area. These are the biggest areas:

1) Generating the trackfile using LockOn.
2) Trackfile editing
3) Generating the movie raw material using LockOn.
4) Video post production.
4.1) CODECs and their configuration.
4.2) Video Tools
4.3) Audio Tools

Where are you and where do you want to begin? You can spend some time scanning this forum for information.

Pretty much what Maj_Solo said.

1) Record a track while flying.
2) Playback the track and use Fraps ( www.fraps.com ) to capture WYSIWYG (with the highest possible settings your rig will allow).
3) Use a movie making tool such as Sony Vegas to edit footage, add sound/video FX and then render (wmv, 3M bitrate, sharpness as high as sys will allow is a good bet).

Is this time consuming? Yes! Will you need a powerful rig? Very likely! I just rendered a 1280x720 HD movie from Lock-On and at times it can bring my AMD FX 57, SLI 7800GTX, SATA RAID-0 drives to its knees. Hope this helps!

I'd recommend you learn how to use ALL camera features of Lock-On. Download Fraps and get a copy of Sony Vegas. Once you know how to position, move and zoom each view and view option in Lock-On including padlock features, you can capture with Fraps and produce with Vegas! The in-game AVI render is not very good for creativity compared to using Fraps, although the render comes out smoother (i.e. also takes A LOT (!!!!!!!) longer).

LD