Youtube – Does watching videos have the same bandwidth consumption as downloading a video

Use "Network inspector" function of your browser's script debugger and find second request to timedtext page after enabling transcribed subtitles then just copy all that request to the addressbar to download them in native YouTube xml format.

To get SRT version run this code in the debugger console for that xml's page:

function makeTimeline (time) {
    var string, time_array = [], milliseconds = Math.round(time % 1 * 1000).toString();

    while (3 > milliseconds.length) {
        milliseconds = '0' + milliseconds;
    }

    time_array.push(Math.floor(time / (60 * 60)));
    time_array.push(Math.floor((time - (time_array[0] * 60 * 60)) / 60));
    time_array.push(Math.floor(time - ((time_array[1] * 60) + (time_array[0] * 60 * 60))));

    for (var i = 0, il = time_array.length; i < il; i++) {
        string = '' + time_array[i];
        if (1 === string.length) {
            time_array[i] = '0' + string;
        }
    }
    return time_array.join(':') + ',' + milliseconds;
};

function returnSRT (data) {
    var caption, previous_start, start, end, temp, captions = data.getElementsByTagName('text'), srt_output = '';

    for (var i = 0, il = captions.length; i < il; i++) {
        caption = captions[i];
        start = +caption.getAttribute('start');

        if (0 <= previous_start) {
            temp = captions[i - 1].textContent.replace(/</g, '&lt;').replace(/>/g, '&gt;');
            srt_output += i + '\n' + makeTimeline(previous_start) + ' --> ' + makeTimeline(start) + '\n' + temp + '\n\n';
            previous_start = -1;
        }

        if ( end = +caption.getAttribute('dur'))
            end = start + end;
        else {
            if (captions[i + 1]) {
                previous_start = start;
                continue;
            }
        }

        temp = caption.textContent.replace(/</g, '&lt;').replace(/>/g, '&gt;');
        srt_output += i + '\n' + makeTimeline(start) + ' --> ' + makeTimeline(end) + '\n' + temp + '\n\n';
    };
    return srt_output;
}

returnSRT(document.documentElement)

Also here is bookmarklet version of the script:

javascript:(function(){function%20makeTimeline(time)%7Bvar%20string%2Ctime_array%3D%5B%5D%2Cmilliseconds%3DMath.round(time%251*1000).toString()%3Bwhile(3%3Emilliseconds.length)%7Bmilliseconds%3D'0'%2Bmilliseconds%3B%7Dtime_array.push(Math.floor(time%2F(60*60)))%3Btime_array.push(Math.floor((time-(time_array%5B0%5D*60*60))%2F60))%3Btime_array.push(Math.floor(time-((time_array%5B1%5D*60)%2B(time_array%5B0%5D*60*60))))%3Bfor(var%20i%3D0%2Cil%3Dtime_array.length%3Bi%3Cil%3Bi%2B%2B)%7Bstring%3D''%2Btime_array%5Bi%5D%3Bif(1%3D%3D%3Dstring.length)%7Btime_array%5Bi%5D%3D'0'%2Bstring%3B%7D%7Dreturn%20time_array.join('%3A')%2B'%2C'%2Bmilliseconds%3B%7D%3Bfunction%20returnSRT(data)%7Bvar%20caption%2Cprevious_start%2Cstart%2Cend%2Ctemp%2Ccaptions%3Ddata.getElementsByTagName('text')%2Csrt_output%3D''%3Bfor(var%20i%3D0%2Cil%3Dcaptions.length%3Bi%3Cil%3Bi%2B%2B)%7Bcaption%3Dcaptions%5Bi%5D%3Bstart%3D%2Bcaption.getAttribute('start')%3Bif(0%3C%3Dprevious_start)%7Btemp%3Dcaptions%5Bi-1%5D.textContent.replace(%2F%3C%2Fg%2C'%26lt%3B').replace(%2F%3E%2Fg%2C'%26gt%3B')%3Bsrt_output%2B%3Di%2B'%5Cn'%2BmakeTimeline(previous_start)%2B'%20--%3E%20'%2BmakeTimeline(start)%2B'%5Cn'%2Btemp%2B'%5Cn%5Cn'%3Bprevious_start%3D-1%3B%7Dif(end%3D%2Bcaption.getAttribute('dur'))end%3Dstart%2Bend%3Belse%7Bif(captions%5Bi%2B1%5D)%7Bprevious_start%3Dstart%3Bcontinue%3B%7D%7Dtemp%3Dcaption.textContent.replace(%2F%3C%2Fg%2C'%26lt%3B').replace(%2F%3E%2Fg%2C'%26gt%3B')%3Bsrt_output%2B%3Di%2B'%5Cn'%2BmakeTimeline(start)%2B'%20--%3E%20'%2BmakeTimeline(end)%2B'%5Cn'%2Btemp%2B'%5Cn%5Cn'%3B%7D%3Breturn%20srt_output%3B%7Dwindow.location.href%3D'data%3Atext%2Fplain%3Bbase64%2C'%2Bbtoa(returnSRT(document.documentElement))})();

With free desktop tools like BB FlashBack Express and Microsoft Expression Encoder Screen Capture, you can record whatever is running on your screen. While the video is running, you can start & stop at required portions.

With Expression Encoder SP2, you can overcome the 10-minute screen capture time limitation that was there earlier.

You can also use open-source tools like FFmpeg & recordMyDesktop to record video playing on the desktop.