To use fraps, You must have a decent computer. Over 100 fps without recording, otherwise it'll lag.
I get 60 fps w/o and when i try to record i get 20-30, It's to hard to play with.
If you want high quality videos record with full size - 60 fps. You can google some settings for fraps.
I use sony vegas to render videos in 720p HD. Also can find render settings for it on google.