I currently use HyperCam 2 to record, I've found out i need a better recording device, which can:
1 Videoes made by it, should be upload-able to youtube.
2 Has at least the quality like HyperCam 2 85%.
3 Can record sound high enough to hear it from Minecraft clearly.
4 Not getting Minecraft to lag when used.
5 Is free
Any record software will make Minecraft to get lower FPS because of the record software also needs to use the graphics card so in order to keep a high enough FPS you need a better computer so you are back to start.
I need one as well, but on a different system. It's an old iMac - you know, the fully white ones - with Mac OS X Leopard (v1.5.6). Right now, I'm stuck with Screencast-O-Matic. Please don't suggest Hypercam, Camtasia or CamStudio because none of those work on my computer.