there are other viable video compression codecs however.
if you're chucking out 60 frames per second for 30 mins (30 mins of gametime, probably fast-forwarded as recording), then that's a lot of data getting chucked at the disk, also many (cheap) drives can't cope with the transfer rates which can result in slower recording etc. a little RLE or other fast lossless compression can reduce the data sizes quite a lot.
tbh, for defaults I'd use whatever youtube recommends (and is installed).
glReadPixels before drawing the console works fine. Just make sure you're not forcibly tripple buffered.
