I’m currently using Screencast-O-Matic (only 720P) but serves my purpose. The pro version allows text to be added to a paused recording (in addition to lines, rectangles and ellipses). Although not free at $15/year it is hardly expensive and probably cost effective for evaluation. Have a look at one of their tutorials on the addition of text to see if its the sort of thing you’re after http://som.screencasthost.com/channels/cDj6YeYed#details-cDj6Y1i7tU The biggest challenge for me is the size of recordings since the range of possible edits to raw recordings is extensive. However conversion of final edits to mpeg is relatively quick.
Wink is a great little program if you are needing small screen recording with text tools but, as pointed out in other threads is somewhat “flash” dependent and (so far as I am aware) no longer under development.