This is pretty sweet. It works really well. iRecordNow is the software. Check it out, you can request a 1 day demo license. It uses QuickTime to compress your audio and video.
I just wish for the $150 cost of the iSight you got software like this. Or that you could record your A/V conversations. Maybe in a new release of iChat? Who knows. But for now iRecordNow is pretty fun to play with. And makes good use of the somewhat expensive iSight (or any video camera for that matter). Now I can make movies of how cluttered my desk is, great! As you can see (296 kb mov), I don't care if you think I look like a nerd, I prefer geek, anyway.
