With waypoints, is every move recorded by the phantom from A to B?

ie.

I fly down the street and go up and down in alltitude while banking back and forth left to right.

Does the phantom fly that same pattern over and over?  or will it just move on a straight line to the next waypoint?
Will it record the altitude adjustments you make?

It would pretty cool if it did. Becasue you can setup a shot and redo it over and over and over.
Also good to create templates for simple moves.

It moves in a straight line between points, rising and descending as indicated by the waypoints. So be careful for example if u r doing a path around a house at say 15' and u mark one point at the front of the house at 15' and the next point u want to end up behind the house at 15'. If those are ur only two points then it will try to go thru the house!!!