I use Camtasia.
It usually lags as much as FRAPS but the files take far less space.
Also it can convert the file after recording to various different formats.
And it can record any portion of the screen.
It doesn't have to be a game-screen.
Lol Lemme give you a hint to finding what your looking for.
Hint #1: Its the number one way to get fansubbed anime and scantilated manga (although it might not be the fastest depends on who SEEDS and who LEECHES)
Even if you happen to use the download method above, it probably won't work on your computer. This has happened to me and it was pretty difficult to fix it. What happens is that when you uninstall the trial version of Fraps, some of the registry keys will remain. So when you install the full version, it'll just load for a second and stop, without even starting. So in order to fix this you need to go to regedit and delete some of the keys manually. But in order to find the key locations you need a program called "Trial-Reset.exe". However that has a keylogger that's active when it's running. More info here.
Guys I have it. Bulnet's screen recorder. It was freeware (v.1.5a) but is no longer. Still, if people can find the freeware version, it works great with trickster