Anyone have any suggestions for...

[Rodvik]

A good video editing software for Windows 7 and a good video capturing program?

[Samhayne]

Video capture: FRAPS

Video editing: We use Adobe Premiere here in the office. Windows movie maker is free, but lacks a lot IMHO.

[Otukura]

Sony Vegas is very nice for editing, if you can get a hold of it. Fraps costs a bit for the full version, and will only let you record 30 seconds at a time with the free version, in addition to adding its own watermark. As a substitute, I'd suggest playclaw (http://playclaw.com/), which I actually prefer. Not as user friendly, but the quality and higher framerates when recording more than make up for it.

[Challa]

I used to use FRAPS too, but the file sizes were massive, so I switched to Bandicam, its FPS is nicer and file sizes are great too. Its really easy to use and has great video quality. Also, it's a free download. The free version adds a watermark over the video, but it can be cropped out easily.
For editing I'd recommend Adobe Premiere, which I've used for years.

[Rodvik]

Thank you everyone who gave suggestions..=) I want to venture into some video making to have some fun..=)