For recording you can use either a capture card or a webcam, it doesn't matter if the quality is bad as long as the game is somewhat discernible. For showing a timer isn't necessary since we can deduce what the time is from the length of the video, but if you want to use a timer program, most runners prefer to use Livesplit.
I personally use the Elgato HD 60 Pro which is an expensive card but works decently. You can also get standard definition capture cards for a relatively low cost. Outside of Elgato products I have no experience though so I would recommend asking other runners about what they use.
If you want a decent capture card, your best bet is probably the AverMedia LGP. I currently use Elgato Game Capture HD (original, not 60), and it's pretty decent, but when I've used other people's LGP I've definitely preferred it overall. Also I'm not entirely sure but I'm under the impression that the original Game Capture HD is no longer being made so you'd have to get one used if you went that route.
GV-usb2 is by far the cheapest but it's pretty decent just can be a total bitch to set up tho but it's the one i would recommend
if ur doing the switch yea if u have a switch, if u have a WiiU then u can easily run it with GV-usb2
