will it still record if I have below 1mbps internet speed requirement?

[TomMac]

It might... depends on how slow.    Some have slower speeds and it still records tho possible with degraded video

[SnakeMan]

My DSL speed it 10 Mbps down and 512K up and I have two cameras on my system.  If one camera triggers everything seems okay.  When two of my cameras trigger at the same time then I see some slight buffering at times.  I always have my system off except for nights and when I am gone.  More or less like a burgler alarm.  If you are considering a system with more than two camera's then I would follow the recommended guidelines and make sure that you have 1 Mbps up speed.