Where is the video recording?
If by "live" recording you are referring to a Spotlight" (or other video camera imput recording), then the file is stored as only a temporary file until you decided whether or not you want to keep it. (I.e., when you finish recording the movie opens in the QT X v10.2 player and you are given the option of keeping it or discarding ing it.)
I just upgraded to Qt 10.2 and I have discovered I now have to export a live recording. I could not locate any way to change the location of the video recroding... I would rather drag and drop files then exporting.
The two main ways are
1) Select the "Export" option or
2) Attempt to close the recorded player window.
In either case QT X will open the "Export" window defaulted to what used to be called the "Save As..." option—i.e., the original recorded data will be saved to an MOV (QT movie) file container at a location of your choice using the filename you pick. The programmers who set up this option were obviously not literary scholars so you actually have to read the modal box text description to know what is going on. If you do, you will discover that what they are calling the "Export" option is a combination Save/Save As.../Export option if/when the player content is Save/Save As... compatible. (I.e., if the default "Format: Movie" pop-up uption is available, the the movie is "Save/Save As..." compatible and the data is not actually transcoded as an "Export" file.)
Can I down grade to the Leopard version I had that worked more efficiently? I prefer to record video to a second drive so I can keep the boot SSD drive free to run Parralels/Windows7.
Yes and no. You still have your QT 7 Pro key, can download and install QT 7 (v7.6.6.) which is a special version that is compatible with OS X v10.6, 10.7, and 10.8 operating systems. (The actual Leopard 10.5 version of QT is not compatible Snow Leopard and later OS X systems.)