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“…And by the way, in that speech you spoke about. If you have the speakers covered & your brother just shot the audience reactions, you don’t actually need to have the camcorders synched for editing in your brother’s best shots…” – BM
Also, Fred Ginsberg was kind to provide such an informative article and post.
Essentially, what Barefoot Media said above holds the key, and while the person actually depicted in the cutaway (reaction shots insertions) might remember that he/she laughed, cried or picked their nose at a different time, nobody else will. So, if like BM said, you do not have to worry about syncing to the lips of the speaker(s) between two or more cameras, then laying your main camera of the speakers down as your audio and primary video track, then inserting appropriate cutaways (shots that go along with what is being said – sad, funny, etc.) should be a piece of cake.
Also, as has been mentioned, if your production is informal for family/friends, and not commercial, then if the color isn’t off the charts, it will not matter as much, especially if the primary base video is consistent. If blues and browns on your camera footage look red and orange on your brothers, then you need to focus on some kind of color correction and/or (again, as BM pointed out) a treatment that makes the change less noticeable, or maybe more forgiving – converting the inserts to black and white, for example.