Encoding match vids

Hi! I’m using a USB capturer to record some matchs, using it with Ulead VideoStudio (it came bundled with the hardware). I’d like some recommendations for some nice audio/video codecs, with the best combination of quality and size compression. Also, if possible, I’d like to know which software I could use to write the names of the players and some other stuff over the screen, just like in japanese ranbat match videos.