[NOTE] Action! Live subscription is an optional feature only if you want to stream live videos to Twitch, UStream, etc. You are not obligated to have it and it does not affect using the Action! recording software.
I have been using Action! since it's release a while back on its official Web site.
What you get here is the Commercial version of Action! recording software.
I have used Fraps, Playclaw and Litecam and have found that Action! does offer better performance, even with Playclaw running through Fast settings with Uncompressed AVI, Action! still performed better.
Action! includes a lot of features and especially performs really well when recording a custom active desktop region for windowed games and emulators using OpenGL. None of the other recording software could either record those or keep a steady framerate on them.
Action! encodes in both AVI and MP4 but also, if you encode with AVI, after the recording it offers you the ability to convert the AVI file to an MP4 file if you wish.
On top of that it can upload your finished recordings directly to Facebook and YouTube removing the hassle of having to access them through a browser to upload.
Another cool feature is that if you are running an Android device, Action! has an App that you can download to use as a remote control to control your Action! recordings. And I use that feature a lot.
Everything else about Action! you need to know they have already explained in the description.
I have to admit, Action! works really good and it is often updated.
Also, the Live Streaming subscription to allow Streaming to Twitch, Ustream, etc. is cheaper than the subscription service found in XSplit. So you are also getting a good deal with Action!
If you want a great performing software recorder with a lot of features, live streaming and remote App control, Action! really gives you the bang for your buck.