Just wanted to say I've been very impressed with the performance of Action!
Recently I've been looking for something to record some video game play. I play at 1920 x 1200 and I wanted to record in that resolution. I tried Fraps, which seems to the leading recorder. My fps was horrible. Tried Playclaw and had the same result.
Heard about Action! from the Playclaw forums. Downloaded it and right out of the gate, minimal performance loss. Actually if it wasn't for the hud I wouldn't know I was recording. Here is a cut of my first session with Action on Battlefield 3. http://www.youtube.com/watch?v=SAFpnH_Pgy4
Keep up the good work.