I'm using bandicam and it isn't using so much memory. Part of the reason why I chose it was because my hard drive is only 400 gigs. I don't know if your willing to switch recorders but if you d have to get it at a lower video format, try changing the file type to .avi or something. Just click rename and remove the file type (.mp4,.jpg,etc) and replace it with a different file type. It could help out. Also if you have to save to external hard drive because when I record with HDPVR 2 it eats my hard drives memory which leads me to deleting or moving the videos. I can really tell you much more than that. Also bandicam has a free version that records for 10 minutes and records up to 30 frames.

There is an option on fraps to have it save the files at half size but it reduces the quality. What I've been doing is after I record at full size, I upload it into windows movie maker then save the video as 720p. It really shrinks the size down and then you can delete the fraps video file.

There are better video editors than what I'm using, but I just don't have the time to get something else since I work full time and have little time to actually record and upload. I'm surprised I get 1 video up a day (sometimes I miss a day... /sad face)

I record with 25 frames and "Half-size". After about 15 min. of recording they're like 4 gb. And then cut and stuff in Adobe Primere and converting and rendering with the h.264 code After that it's about 500mb big

well... since you asked for a Converter yes? go for Sonyvegas it will reduce the shit out of it.