I use Bandicam (will be getting a full version soon) For editing I use Sony Vegas Pro (Full Version) Both, I personally think are amazing.
Download fraps demo. You can record 30 second videos. If you want the full version get a cracked one. They always work.
For me, yeah. I never need to record 10 minutes of footage at a time, so it works a pleasure. The logo watermark is there, but it's fine for just reporting people who hack.
I use the free version of bandicam. It's honestly not that bad, it doesn't lag for me. I never exceed the 10m max length when recording hackers so it's alright for a Moderator.