Assumeably if it is toggled off...one can run a little "trial" edit switching cameras... but they dont get written to the timeline?.
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Irrespective of whether it's initially toggled off or on, every change of its state resulted in a cut in Master Sequence.
The only difference in behavour is in its reaction on the stop button click:
- if the Record button is toggled on, stop button makes a cut on a timeline;
- if the Record button is toggled off (in any case: whether you never changed your camera view while playing the Master Sequence or toggled Record button off manually), stop button doesn't make a cut