OBS is amazing it completely negates any need for programs like XSplit.
Learn to use it and you will love it...hug it... and have imaginary parties with it (jk). It is free, but I do not know of any paid programs that are superior. Most streamers are moving to OBS if they have not already. Additionally, OBS negates the necessity of a peripheral or PCI recorder as the recording can be directly done off of the processing (by both CPU and GPU) that you have generated to play the game to be transmitted to your stream.
The only requirement that is necessary is upload bandwidth depending on the quality you are streaming. I have been able to broadcast 720p@60fps with only 1200-1500kbps (1.2mbps - 1.5mbps) bandwidth allotted. I recently changed ISPs (and increased bandwidth which increases stability) but I will provide 2 examples to you (the same video) created video on Twitch.tv (which also provides video editor via highlights) and YouTube. You will note that it should be a calling for VSync but that during a patch that dropped my fps on max settings to 55 which never happens during current patch. The point though is that the video suffers degradation if you've set it to 60fps but the game itself drops under that number. You can set the FPS from anywhere from 1-120 using OBS. I use a TV as a monitor which is why I generally refrain from VSync because it can sometimes cause secondary issues in games like LoL.
I am not doing this for "self-promotion" I am showing you examples so that you can see first hand what real footage looks like using the program. My Twitch channel features other videos from other games as well if you find it helpful. You may want to mute
the sound if you find excited people annoying. I should not
have had FPS recording set at 60fps, I should have had it set lower, because as you will see, when it dips below 60fps the video looks scary ugly.
Twitch link: http://www.twitch.tv/general_mars/c/2462525
YouTube link: http://www.youtube.com/watch?v=3Cq85sZm8xM
If you intend to upload any videos to YouTube this is their tool http://www.youtube.com/editor?feature=mhsn
If you decide to use OBS and have any questions, I have no problem helping but I do not check this account that often so feel free to hit up Twitch, Youtube, Steam (also General Mars) or other accounts. (If you decide to record with OBS instead of streaming negate the internet reqs but the video works the same way saving the files in different formats to your selected folder).