I spent hours writing a guide on how to record a screencast, or record what is on the desktop, and convert it. I then found out that this is much simpler & faster and doesn't even involve opening the commandline.
In order to do this you need VLC and gtk-recordmydesktop. They are available in most distributions repositories. If you want to do this in Windows you will have to use a screen recording program, but the VLC step is the same. I have had great success when using this, and hopefully you will too. As you can see I, I am running PCLinuxOS, but you can most likely accomplish the same thing in Ubuntu, Fedora, and other Linux distributions. No worries. I also noticed that the video won't upload to metacafe in Linux. I found the best way to sidestep this is to install Firefox with WINE and upload it from there.
Please disregard the parts where it shows the video playing back. It actually does play back, but recordmydesktop doesn't capture it.
If you have any questions or comments please leave them.