I would assume host as well. Or would each record a separate version?
Results: nothing, xbox live asks for an dashboard update when connecting to live without a hdd.
I'm pretty sure the host records the theater gameplay, that way you can view the first person perspective of all the players in the match. In MW3 you could only watch your first person view.
Maccabi already stated that theater mode isnt the problem a while back. There is not enought data transmitting to be of any consequence.
As for who is recording the game, the HOST is recording the game.
not enough data? so theres still something there.
every bit counts