Text entered during macro recording should be available during macro playback

[japanoise]

1. C-x (
2. foo
3. M-b
4. C-@
5. C-e
6. C-u 1 M-|
7. tr [a-z] [A-Z]
8. C-x e

Expected

A capital foo appears.

Actual

A lower case foo appears. Prompt for command to execute appears.

Reason

Macro recording is not done on keystroke level, but on command level.