According to Microsoft’s Senior Director of Product Planning and Management Albert Penello, the Xbox One’s game recording features will be somewhat limited at the console’s launch. While Microsoft promised that you would eventually be able to record your play sessions and share them via social networks, this capability will not actually work until it is patched in sometime next year during the console’s life span. Instead, users will only be able to share their clips via the build in Xbox Live network until then. (Speaking of game companies promising something that won’t be available until after launch, read up on the PS4’s HDMI capture abilities .)
Recorded Xbox One clips are played bat at 720p at 30 frames per second. At all times the Xbox One will record the last five minutes of gameplay, though you can force your Xbox to record specific portions of gameplay that are longer. You will be able to edit your video clips using video editing tools built into the Xbox One firmware. Some of these editing tools involve picture-in-picture capabilities and voice-over recording, allowing you to make all the Let’s Plays you want. The Xbox One will also let you capture video via external capture cards.
Source: Destructoid via Gamespot