I've never really solved the problem with lag and recording, but if you want a good recorder use fraps (FRAPS show fps, record video game movies, screen capture software).
As with editing programs, I recommend;
Sony Vegas 9/10 - Vegas Product Family Overview, pretty easy to understand and use,
Adobe After Effects - Visual effects | Adobe After Effects CS5.5, a lot more complicated, but an amazing program if you're looking for professional like effects (MUST HAVE 64bit vista/w7 tho)
and PowerDirector - PowerDirector 9 - World 1st 64-bit consumer video editing software, never really used..