Installation
The installation process is standard, and has no toolbar add-ons and other junk. However, it does not provide a place to put your registration key, so you'll have to remember to do this when you start the program.
A first look
Upon starting the program, you get a slimmed-down GUI, especially if you came from HyperCam 2.
But don't worry, simply click "Options," and you'll get all your options, with much similarity to HyperCam 2. However, it doesn't have the "auto-select" compressor function, but leaving it at the set default should be just fine if you've never changed this.
You can easily select a region or window with the buttons above, and enter in values for exact ratios.
If you set the region to flash while recording, it's not going to flash like it did in HyperCam 2. Despite this, it isn't going to lag up and get in your videos, even though it appears to do so.
What's also nice is there is now a toolbar, allowing you to easily pause or stop a recording without having to remember the shortcut keys to press.
Performance
One thing I was never able to do with HyperCam 2 was to record at 30 FPS (frames per second). I was able to max out at 20 FPS before HyperCam complained about too high of a framerate. I was able to successfully record at 30 FPS when doing a standard test of it, without having a resource-intensive Direct3D game running. So, I tested it out on Minecraft. The result was that it started lagging my game--and my computer. At least it didn't complain about a high framerate, so I am able to record, but to record games in high quality, I guess I'll have to use something like Fraps to record those.
Editing
HyperCam 3 comes with a built-in video editor. It's an extremely stripped-down version of the most basic editor you can get. It has sound adjustment and basic trimming tools, but it is not cutting-edge, as the website claims. If it had frame-accurate trimming, then maybe it would be useful, but I prefer not to bother with it. However, it might be useful to those who make computer tutorials and don't need to do a substantial amount of editing.
By the way, I use Windows Movie Maker to edit my videos (and you can do all sorts of stuff with it, it's not just for simple editing), so I look for screen recorders that save videos in a format compatible with Windows. However, this was easy for me in HyperCam, since I can choose what encoder to use.
Other features and tips
There is a screen notes feature that is present, but since I've never used screen notes, I don't think I can give an opinion on it. I just simply add annotations to my videos during editing.
Even though HyperCam 3 is paid software, you only get a small watermark in the top-left corner on your videos. And, if it was like HyperCam 2's watermark (although HyperCam 2 is now free), it gets smaller if you select a bigger region.
One particular feature I like about HyperCam 3 is the ability to backup your license key. Although it could be just a text file disguised under a proprietary file extension, the fact that it's there tells you that the developers were keeping in mind that something could happen to your computer in which you would need to reinstall the program.
Alternatives (that I know of)
Conclusion
At the price of $30, HyperCam 3 boasts some huge advancements over HyperCam 2. It also records sound well (unless you're lagged out), and the ability to choose the encoders you have on your computer make it compatible for any editing program you choose. Although I'd like to see other features, such as zooming-in/out while recording, I give it a thumbs-up, especially if you have a sluggish computer and want to record at 30 FPS. I'd highly prefer it than using other screen recorders, such as Camstudio, which had a knack of recording the "busy" state of my mouse, despite whatever state it was in.However, if you care less about the framerate, and want to get rid of the watermark without having to pay, then I'd suggest you can go for the freeware alternative HyperCam 2.
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