O! B! S! O! B! S! O! B! S!
Open Broadcaster Software is the only recorder I use now, and it kicks buttons. You can capture straight from apps, from external devices, or simple screen capture. You can stream to Twitch.TV or output to local file. It supports overlays, scene switching, multiple audio-in options, on-the-fly downscaling (say you're operating 1080 and wanna record/stream 720 for better performance; it does that, and it does it well) and so on. It's great.
It's also, as the name suggests, open source. Gotta love that price tag and community support.
I used it this morning to record a pair of brief videos from Phantasy Star Online 2 even. (Shameless plug.) Take a peek:
[video=youtube;UTAnwcTF4AI]http://www.youtube.com/watch?v=UTAnwcTF4AI[/video]
These are videos of me playing in 1080 that were downscaled to 720 and captured at 30fps (instead of the 60fps I play at) in order to maximize fluidity of recording (since I don't trust my hardware to both play and record 1080p at 60fps, especially not when both processes require use of the same hard drive).
Edit: Looks like you can only include one video per post. Heh. Here's a
link to the other if you want to see it too.