The record function is not a real record function for recording a whole show.
i use it for quick recordings for
stills (instead of screenshot the output)
loops of multiple layers ( i replace it then and save some space)
realy quick n dirty loops (i.e. i had a frind with a band need to have some visuall stuff for handing over aat a gig) i took theire logo and just had a few effects placed over it and recorded this (quicker then AE for me)
but i dont use it regular at all
It was a time were the record function was limited to the free ram of your system, but when im right it was changed in version 7 and can be longer now.
If you want to record long and complex setups i would give you the advice to use a 2nd System for that.
you can send your composition either via a capture card or via ndi and network. This recording system dont have to be a full power machine ... as usuall try try try..