I'm all for recording events, but I feel if it's something this huge, like electing a new Pope, somebody else
will already be recording it. There are likely many people getting paid decent money to record it, and their versions will look a helluva lot nicer than what I could record on my phone.
So in this case, I'd put my phone down and watch the event with my own eyes. If I want to watch it again later, it won't be hard to find video of the event.