Does running fraps in the background have much of a performance hit?
What is the maximum video length you can record?
What do you lot use to edit you videos?
1. It depends on your computer specs. Personally, my game runs at 60/70 fps usually, and it drops to 35/40 when Im recording (full resolution 1440/900, 50 fps). If you have a gaming machine, shouldn't really be a problem
2. Not really sure but on NTFS disks, the maximum filesize is 3,9 GBS. (which is around 3-4 minutes of recording for me, based on the resolution and the framerate) If you record longer than that, FRAPS should create another file and keep recording (not sure about that though). So if you record during 10 minutes, you may have 2 or 3, or even more different files you'll have to paste to each other in an editing software, which brings me to the last question;
3. Basic and easy softwares to use are windows movie maker (very limited in editing tools, compression), virtual dub (pretty good to compress file and not that hard to understand [its mostly a compressing tool, not editing]). Evoluted softwares are Sony Vegas or Adobe Premiere (I use vegas personally)