It is very easy to install using Synaptic/Apt and is available in the Ubuntu Universe Repository. There are two front ends available using GTK, and QT. The only issue I had to troubleshoot was that the recorded audio was out of sync and choppy. It was very easy to fix by changing the DEFAULT sound option to plughw:0,0.

The software is capable of using a variety of audio sources including Jack audio server. The capture provided an excellent quality file in .ogv format.

If you are sharing the video capture with Windows users, you will need to convert it to a Windows-friendly format for them. I used mencoder - 

mencoder -idx mycapture.ogv -ovc lavc -oac mp3lame -o mycapture.avi

For a helpful page on installing additional repositories and software in Ubuntu, see here Enabling Extra Repositories. You should also see the following link:  Medibuntu  – to install the W32 Codecs.

This is only required if you need to convert the output into a Windows format like .avi. In order to play the converted avi video in Windows,  I still needed to install this free codec: FFDShow MPEG-4.