Awesome idea.
2 questions:
1. Will there be an indication that a record is in progress, either to the entire server or to a person who tries to initiate the recording? Not specifying if a record has been initiated will help against abusing the function and benefit servers that want to disable the function (since the cheaters wouldnt be able to know if a server has the function enabled, acting as a deterrent).
2. Perhaps put in a function that automatically deletes records older than such-and-such (so there wouldnt be any older than, say, a month)?