There is this little feature – Web Event Recording Configuration – sitting inside Tools menu of QTP. QTP help has this to say about it.
Web Event recording Configuration

QuickTest creates your test by recording the events you perform on your Web-based application. An event is a notification that occurs in response to an operation, such as a change in state, or as a result of the user clicking the mouse or pressing a key while viewing the document. You may find that you need to record more or fewer events than QuickTest automatically records by default. You can modify the default event recording settings by using the Web Event Recording Configuration dialog box to select one of three standard configurations, or you can customize the individual event recording configuration settings to meet your specific needs.

I find it as one of the most neglected areas, as I have never received a single query regarding this feature on my blog or forums in the past 2+years! So , just want to know from you, have you ever used this feature in the past? If yes. Please let us know how it helped you with your QTP issues.