Okay did some more research and talking to some friends outside of just these forums.
Fraps seems to still be a good one to use but without paying cash it has a recording limit of like 30 secs or something not much - no editing really - def can lag
EZvid you heard my response it has all the editing features etc just wont let you record and use mic as same time - makes the vids seem disjointed and definatly has lag
Lastly and a new one and so far my favorite: Bandicam: Has most all the feature and less lag and can record and use mic etc and ready for youtube upload. Free version only allows for 10 mins of recording though but that’s pretty good compared to others. No editing though.
The issue I see with most of the programs is capture verse editing it either does one or the other well and the other not so well or doesn’t have the other or you have to pay to do any real amount of time capture.
So imho no industry standard open source recording and editing software that does it all for free. You would think someone would have filled that void by now.