@drauger: it's not really about format, it's about compression methods. Videos generally consist of three parts: container format (Video for Windows, QuickTime, RealMedia, Matroska, usually identified by extension, such as .avi, .rm, .mov, .mp4, .mkv), video compressor (DivX, Xvid, QuickTime Video, etc) and audio compressor (MP3, AC3, Vorbis OGG, etc). Some formats may support features like menus, subtitles and more, but not every video player may support those. Fraps has built-in lossless compressor. There are both free and commercial software to convert from one to another. VirtualDUB for example. For video editing it's mostly about commercial software such as Pinnacle studio, Adobe Premier and Sony Vegas. I'm not expert but I do know few things about that, if you want competent answers head to Doom9 forums, there is a lot of information about video processing.
I wouldn't mind if you had your own camera ship, but the problem here is that the source material need to be in high quality before mixing, processing and compressing. If you did recording before you know that fraps saves video in lossless quailty, it has built-in compressor but the resulting size is still a lot, for example a few minutes can take up a gigabyte or even more. Considering amount of work and bad takes it'll take tens and possibly hundreds of gigabytes to store all the material. Therefore it's impossible to share those amounts between us considering the limitations of our internet connection bandwidth.
@Fellow Hoodlum: the answers were meant to be in roleplay, that's why I had that RP intro, but I guess this isn't the case. Regardless, the RP part of the original message is still meant for RP section.