1. go to normal mode
2. turn off BGM by pressing circle button
3. go to dive mode
4. eject cd.
5. Press X about 3 times that'll give you the stationary camera, you can enjoy camera angles that last forever. just press X
Yes press the eject button on your PS2 (not the reset button), as the camera changes are linked to the music and the music is streamed off the CD. When you eject the disc in a replay, the replay still runs, but as the music can't stream you get a fixed camera angle.
Its a trick used a lot to put together the drift videos, it can be very effective.
In regard to if it will work from the hard drive, no idea, but as the system will most likely be streaming the music from the hard drive as well, then I doubt it.