I've had it for a while now, and I can say that while it has it's flaws, it is definitely a solid recorder. It can record games at 1080p if you want (and can). I will mention that there is an original option in the quality options, which is for recording at a resolution that isn't 1080p, 720p, 480p, 360p or 240p. It will not record higher than 1080p though. If you are playing a game at 1080p, and you set it to record at 720p, it will only record at that resolution. This is a fantastic feature because, while it may look a bit blurry (and i mean a TINY bit), it will come out as a much smaller file. Which is good if you don't own a very big hard drive or want to upload something to Youtube in your lifetime. This recording option can be done in any of the listed resolutions. This feature is lacking in several big recording softwares, which force people to manually compress the files.
The UI is fantastic, and way more straight forward than most recorders that I have used before. The recording options are easy to reach, and yet they seem to do a lot without being confusing. There are SO many features that I love about this software that I can't find in most recorders. There's a window option, where you can record a certain part of your screen, which is very handy for windowed games. There's a facecam option if you have a camera. And of course, it has the usual voice recording options.You can choose for it to limit your frame rate while you are recording, which is good if you don't want lag or just simply want to record at a certain FPS. Action also performs WAAAAYYY better than FRAPS. The recording quality is slightly lower (but trust me, you cannot IMAGINE how small the difference is), and while some people may want to go for the recorder that records a tiny bit better, Action won't dive on the frame rate.
When I used FRAPS to play a retro game, I got about 5 FPS, and the game even FROZE at times. Even when I wasn't recording, having it open slowed the game down. With Action, the game ran like it did when I wasn't recording. It was incredible how fast it ran. One complaint I have, is the FPS options I mentioned earlier. You can chose to limit your frame rate at 60, 50, 30, 25, 24 (yes 24), 20, 15, and 120. Why are the options so random? Why is there a 25 and 24 option? There's no difference! And yet there's no 40 FPS option. I actually really like limiting my frame rate at 40. So why am I stuck with using 25, 24 and 15? Get rid of 24, as a single frame difference is NOTHING, and add 40.
IMPORTANT: To do live streams, you need a subscription. It comes with a free subscription when you buy it, but I can't remember how long it is. I have never streamed using Action, so don't ask me how it performs. I really want to emphasise that there are programs like OBS (Open Broadcaster Software) that can not only record games, but also stream them FOR FREE. Not to mention you can also add on screen pictures and messages in real time on OBS. So if you want to do live streams, seriously consider something else.
If you want to see it in action (joke intended), check out my Youtube channel at https://www.youtube.com/user/MrNiceguy3210
My videos are mediocre, but I have a lot of fun making them :).