Use these settings: https://s31.postimg.org/hf37acc8b/pcsx2_Core_Settings_Game_Fixes.jpg
There is quite a bit of slowdown in 3rd person view and in replays. It seems you need a fast PC to run this smooth with increased resolutions. I rendered this gameplay at 2X resolution since anything higher got too slow. View in HD/60fps for best quality.
PC: i5 4ghz, HD7870, Windows 7