Honestly, just get Xsplit Gamecaster. You can do 720p at 60fps with a free account (unlike XSplit Broadcaster which is what we use for streams).
It also integrates itself quite well into the games in a manner similar to the Steam overlay.
Eh... One of the reasons we were waiting for the system was to end this shit with recording software that hurt quality and occasionally overloaded public video services.
Face it, nothing any devs can ever put up will ever compete with the services that Twitch and YouTube provide.
Also, replay files are temporary in the sense that once big balance patch hits, they usually no longer work. Video captures the moment forever.