I have registered Hypercam 3 and I can highlight a few things about it.
The trial has no limits to recording time, it only makes a small thing with text in top-right corner.
It has all features as Fraps + more.
It CAN record audio from the computer or a microphone port.
You can adjust the output quality, fps, fpk, compressor, output format, and audio compressor. (The compressors can be set to none [full quality])
It also has a MUCH better interface than fraps
It even has its own built-in video editor (It is pretty basic though)