You can make screencasts using Quicktime in Lion, although I never tried that. I have been using
Screenium which I bought two years ago during their christmas sale and but you may need to tweak around in the settings depending on the video you want to have.
I have tried a lot of solutions for Mac OS X (except for using Quicktime) and Screenium is the one that I liked most and yet not as pricey as Camtasia for example. In fact, every video on my Youtube channel that uses a Mac OS X environment was made using Screenium (except for the timelapses).
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