First impressions are great! Installing had 1 hickup, it gave me some error, though, trying to install it the 2nd time worked
(Sorry for not SSing the error, forgot it)
The recording of videos goes really smoothly, you set the settings to fullscreen or whatever size you want the video, press on record, about 1 sec later you get a window counting down from 3 to 1 before it's gonna start.
During the recording I had no lag at all, everything was fine, awesome!
However, when playing the video it does actually lag, but the quality is the same as how you see it while you're playing!! Insane =]
About the editting I'm not sure, just tried it for a few seconds, didn't really look at it yet.