>>132796693i use camtasia studio 7. it's not very good for recording especially if your computer sucks, and occasionally it derps pretty hard, but the features it has built in for video editing are so goddamn easy to use and learn that it outweighs its downsides. for more demanding directx or opengl games i just use fraps or dxtory (and still edit those vids in camtasia)
camtasia has an option to record stereo mix and your voice so if you have headphones that's the best way to do it, as you can edit the volume of both individually afterwards with ease. otherwise you have to play a careful game of balancing the game audio with your voice and recording them both through the mic. that's the way i do it (mostly because i am lazy) and it took me a while to get just right so that it doesn't sound too bad
if you want to ACTUALLY stream to ustream or
justin.tv, use xsplit broadcaster. it's built in screen capture will work for some things, but it also works with dxtory for others
if you want to record CONSOLE game footage, happauge hd-pvr. it's expensive, but better than dazzle.