Okashu from Polish LoL forums found an application made to record and replay LoL games (no idea where did he get it from)
Here's the link: http://www.leaguereplays.com/
I have no idea who's the creator, but I'm really thankful. This thing is amazing.
Allows you to record whole games without taking much Hard Drive Space (28min game is less than 4MB)
Doesn't screw up your FPSes
Gives 100% quality
Lets you move around the map as much as you want (but you won't see HP bars at places you didn't look at this time, since they are server sided)
problem is, you can't make a video out of this, but you can probably record the replay with Fraps or something like that.
Let's all hope Riot supports this!
Edited by peyo, 09 February 2011 - 11:14 AM.