I've just got it, finally, after around 3-5 tries... For those wondering how to get it, just follow these instructions as close as possible, this achievement seems quite picky!
- It shouldn't be necessary, but you might really need to erase your pics and/or replays in order get the achievement. If you value your pics/replays, try it once without deleting them, see how it goes, and please comment here if it worked. I did it just in case, but it might not be needed!
- Watch 10 "races" : 10 replays, just watch a few seconds and leave. Note that one tournament round "watched" 10 times worked for me, no need for Gotham Heroes races, nor complete views.
- Without leaving the game, do a race, I did mine in career mode (first race at medium with the RUK Spyder), and save the replay. You might need to "win" the race in order to be able to save it.
- Back out to the title screen after that, and DON'T GET BACK IN THE GAME. Exit straight to the Dashboard with the button on your controller, then get back in the game, and it should unlock on the "Your settings are now loaded", right after the "Now working" screen.
Good luck for this one, with TA's help you should definitely be able to get it, I know I did even though I once thought like I'd never get it! :) Thanks to nacd in the other solution's comments for pointing the right direction, I'm just rewording here!