Vodburner is a program that can record your Skype video conversations and gives you the ability to edit them too. This is useful if you like to record and reference personal or business conversations.
If the other person in the Skype conversation does not have Vodburner installed, a watermarker will be placed on the video. Of course unless you pay to upgrade the software.
During each call, Vodburner will ask you if you want to alert the other person that they are being recorded. Vodburner is available as a free download and works only on Windows.