Screen Capture + Editing for free?

I'm just wondering if someone could point me to a good guide (or software......or both) for setting up some decent screen capture on my PC using freeware options and then compiling said capture into a video later? Back in the day I used to use FRAPS into Sony Vegas and do it that way however I'd like a legitimately free way to do this if possible. I know Media Encoder is used quite regularly to stream online however I am not sure if I am able to dump it into a raw file to be able to deal with it? Similarly Sony Vegas I found to be a very powerful yet simple to use piece of software that provided really good results. I was wondering what people use these days to develop their videos online? Cheers!

Hypercam 2 is the best out there. Can't help you with editing, though.

There are a few open source editing software solutions that may fit your needs.

Avidemux : http://avidemux.berlios.de/index.html

Lightworks : http://www.lightworksbeta.com/ I hadn't heard of this one until recently, but it seems to have a few Oscar-winning feature films under its belt.

Jahshaka : http://en.wikipedia.org/wiki/CineFX This one appears to be in flux. I used it a few years ago, but apparently its spotty development has gotten it into trouble as of late.

EDIT: Oh, and here's a capture suite that I used for very long while. Fully featured and (you probably guessed) open source.

Thanks I'll give light works a look tonight that's fantastic! Atleast their site is. I'm not overly convinced avidemux will do I what I want I used to do a lot of batch re-encoding with that. So Hypercam 2 really is the best eh? Was hoping for a few other suggestions to have a look but that will do I guess :D

VHScrcap by from Hmelyoff Labs is pretty decent.

It was freeware before the XSplit dudes merged with them. You can still get that version without any watermark online through a quick google search, dunno if I'd be allowed to link it though.