Considuring my video on how to turn on ghosts in freeplay is included in the post you just quoted, i am surprised you are asking that.
1) You can race your ghost from your current "Free Run" session. But as soon as you back out, that ghost is lost forever.
2) There is no way to save ghosts from "Free Run" sessions, to use later to hot lap. There is no way to load ghosts from leaderboards in free run.
3) Forget about ghosts... There is not even a local leaderboard. Do you want to hot lap all your Type Rs to see which one is faster and how they compare in Free Run? Forget it, better get a pen an paper.
This was a huge deal breaker and the reason many hot-lapers stopped playing this game.
I bought the game only because I was certain that Turn 10 would fix it with time. A year after release and still not fixed.
The last game with local leaderboards was FM2 .I cant remember what the last Forza Motorsport was with local leaderboards, but I think it must have been FM3, which was the last title before rivals mode was added in FM4 (FM4 may have had locals in some capacity, but I am not hooking up my 360 to check).
The FFB updates makes the game feel much better, it's still not perfect but its lightyears ahead of what was in place. I didnt have too much time with the game since the update. For now, I need the game to automatically adjust Degrees of rotation and I still feel it's way too tough to catch slides with Sim steering on, but for the most part, the steering is no longer numb.
I agree about being too hard to catch slides. It almost feels like Forza has a not-quite-perfect tire model, whose slight deficiencies were masked by everyone using the gamepad and its associated assists.
I was trying the Porsche 918 and Carrera GT, comparing Forza and PCARS 2 back to back on identical tracks (Bathurst, Nurburgring). In PCARS 2 the stability is so much better at high speed and when braking, and fishtailing occurs so much less.