Hi, I've found that this is the best workflow, it takes a bit of time to set everything up but it's worth it when doing complex projects which requires a bit more than stringing together frags:
Step 1:
Once I get the demos I rename them to 001_tickstart, 002_tickstart. I also keep a "master" list, basically a .txt in the following format:
001: 56000-57000 (middy/streak/maybe use for filler/amazing frag, etc) <<this last part I don't include if it's my own demos since I know and remember the frags
Step 2:
Record each demo with FRAPS. The FRAPS pass is NOT used for the final output. Rename the FRAPS files in sequence 001, 002, etc. This is only for my own reference, when I am fleshing out a frag movie I like to play the frags back quickly and then I scribble down a possible sequence of frags (eg, 004->smooth of 007 to lead->007->outro using 003, etc, this part I scribble down on a random piece of paper on my desk). I also use the FRAPS files to estimate the length of sequences and decide on how much filler I need. It's basically used to quickly review the frags so I can picture the final frag movie in my head. I wouldn't use this step if fast-forwarding and rewinding demos and playing different demos weren't so slow and buggy and cause problems with crashes.
Occasionally when recording TF2 the audio won't be output properly, so sometimes I will use the FRAPS audio instead of the .wav files TF2 generates.
Step 3:
Record most of the straightforward frags using the Lawena VDM method. That way I can automate the recording process a bit. However, I change the names of the output files from a1, b2, c3, etc to 001, 002, 003, etc. To match my demonames.
Step 4:
Import to Adobe After Effects (I use AE just out of habit but any editor will do), I pre-compose the clips into small compositions with audio and proper frame rates and rename them to 001, 002, etc, again, according to the demonames.
Note:
I use sourcedemo2 to record mostly.
Step 5:
Any special clips which requires multiple passes (smooth, no viewmodels, HUD on and off, depth of field pass) I record manually and then give it a suffix such as 005_dof_pass_xxxx.tga. Sourcedemo2 may or may not be used depending on the effect I am after.
Step 6:
Compose in AE.
The point of renaming the demos and renaming the pre-comps is so that in my timeline my frags are shown as 004->006->007->etc. If one of them I'm not happy with and wish to reshoot then I can simply load up the demo and find it quickly.
Step 7:
Export lossless copy
Step 8:
Render using AVIdemux with x264 codec. I find x264 to be the best in terms of quality and speed.