Hey! Sorry, just saw your message on the other topic. I'd be happy to talk about my recording/streaming process. If you have any questions, feel free to ask. I'll try to be as detailed as I can, hopefully it helps!
So YouTube is my main thing, and my commentary videos were pretty simple because I didn't have to record any game play. I just downloaded the videos from YouTube, and used OBS to record over them. OBS is a pretty popular streaming tool, I don't actually use it for streaming but a lot of people do. I can explain it if you don't know what it is, but it's basically a streaming/recording hub where you can choose what audio and visuals you want to use. Anyways, as far as mics go, any decent mic will probably do. I personally have an Audio‑Technica AT2020 which I found at my local music store. It was around $100, works solid. So yeah, that's my basic commentary recording setup. Open the video, put it up on OBS with my mic, and just record.
For actual gameplay, I personally use an Avermedia Gamer Live Portable 2. It was a little cheaper than the Elgato, which I'm pretty sure is the most popular capture card for gaming. Either way, I imagine they work really similarly. It has a few settings -- one of which is a stream mode which is basically a straight feed from your TV to the computer you're connected to. That will let you grab that visual in OBS and record/stream it. Avermedia also has it's own hub that works exactly like OBS that I use, I haven't had any problems with it and it seems a little more user friendly. Another option on the AGLP2 is to just straight record your gameplay. It has ~50gb of internal storage and saves it in 1080p60fps which is nice. For the JPN beta, I would basically set it to this record setting, turn it on at 4 AM, turn it off at 9 AM when the beta ended, then transfer the file to my computer and cut out the matches that were bad.
As far as actual editing goes, I use Blender for my video editing. It's definitely the cheap option (Blender is free, but it's actually made for 3D modeling and rendering). For whatever reason, it also has a video editing mode. A lot of people use Adobe Premier (not free) or Windows Movie Maker (free but limited in functionality). I've worked with Adobe Premier in the past, and I feel like I have all of the options I need in Blender. It's definitely been a learning curve and there isn't that much out there in terms of a tutorial for it though so it helps if you've worked with that kind of software in the past. Anyways, it's pretty straightforward for making highlight reels and stuff, just insert your clips and cut out what you don't want. I'd be happy to go over the settings and stuff if anyone wants, but I feel like I'm the only person who has ever used Blender for video editing so I doubt anyone else will go that route haha.
I haven't had any issues with copyright from YouTube. Maybe I'm too small a channel for anyone to care, but so far so good. I always put in the Square Enix copyright line that they requested we use back in the NA closed beta.
So yeah tl;dr for me, for straight gameplay I just record to my AGLP2 and then transfer it to my computer and edit it with Blender. For streaming, I just put the AGLP2 in stream mode and use their software to stream, although OBS works just as well.