Another alternative for Screen Capture is
DxTory as well.
But if you do not want to pay anything, then
MSI Afterburner should your Tool of choice. Better than every other Freeware Capture Software.
Of course you have more Quality with FRAPS or DxTory, because both uses a lossless video codec.
I record commented gameplays over a year now, i use
Fraps for record,
TMPGEnc for edit and
MeGUI for encoding.
But it is also possible to use a freeware editing program like
Avidemux as well. (Only if you have anything, that needs editing, of couse.)
Freespace do not produce big files. A record of Freespace Ports Mission "Big Bang" needs only 240 MB on 2048x1152 after the encoding was finished. Codec is x264 on Constant Quality Factor 21.
If you do not mind, that the Commentary is german, you can see the video for an example of quality
here.