One of the best if not the best screencast / demo recording app for Android - Screencast Video Recorder is now on a 100k celebration sale at only $0.99 - at that price, it is a steal! Do take note that the app naturally requires root and they have a 24 hour refund policy as opposed to google's standard 15-minute refund policy window.
If the app doesn't perform as what you expected it to be, you may request the developer for a refund. There's also a demo version to try out just in case you're not sure if your phone is compatible or if you want to spend that money on this app yet or otherwise. Check out the demo version below:
Screencast Video Recorder Demo (FREE) - Android Market
Thanks Jim For The Tip!