How big are the video files in size?
Recording clips instead of full blown gameplay could help reduce it.
There's also external USBs and hard drives if you have one of those.
If file size is that big of an issue you may just try capturing in standard definition aswell.
As far as compatibility goes, completely up to your cap card.
There are workarounds though.. Some video editors even have the option to capture before editing.
You'll have a lot of luck if you research. So long as you're running windows and meet the cards requirements.
What I wouldn't give for a fresh slightly newer old version of windows right now.