The advantage of Fraps is that it records in the resolution you are playing with. Don't be afraid, when you play in Full HD, a 5 minute record can be up to 5 GB. For editing the vid I prefer Sony Vegas.
fraps is ok, but if your going to post them on youtube the image qauility gets better. just record it drag the file to windows movie maker edit what you like add music then upload to youtube and it looks fine.!