So I just got this update from Fraps a few minutes ago and thought it was really cool.  One of my issues with Fraps has always been that if I forget to turn it on I tend to forget completely and have missed things from time to time.  Or I forget to turn it off, and the only notification I get is the nice Windows warning that my hard-drive is full 🙂  But with version 3.2 they’re releasing “Loop Recording” which will basically always buffer the last 30 seconds of action, even when you’re not recording!  So, once you turn this on you’ll only have 30 seconds worth of capture stored but have the option to start (and continue) a recording from an event starting 30 seconds ago.  This will essentially work just like a DVR and provide a sort of “always-on” recording capability without requiring terabytes worth of hard-drive space.  My $37 investment keeps getting better all the time!  Be on the lookout for even more YouTube uploads from me in the future…