I think only you can know that. That is an interesting idea, and I know it is one Derpy uses, would it be like a sequel, or a separate event?
And the CW piece sounds great, I'd love to see how you'll pull it off.
Hehe I use Fraps, however I don't record the battles - instead I just launch my game, and press a hot-key to take a picture using Fraps (mine is F10), this allows you to pause the game, and find a good angle to take the picture, and once you're happy you just press a key. Another bonus is that is saves them in a folder of your choice. After which I do a bit of cropping then upload them to Photobucket, apply some edits - and that is me done. Also you can quickly take multiple screenshots and then pick the best one later if you get caught up in the action.
Hope this help. If you have any-more questions please ask, I'm sure the regulars will try and help you out.