Some small amendments:
The codec is MJpeg not MPeg.
The HD res is actually the res your game runs in.

Other than the minor factual faults, WeGame.com looks like a good, and free, alternative to fraps.
You just need to bear in mind that you will be restricted with which games you can record, but that is something that can be and is improved over time :)

Check it out and start recording those gaming memories!

watch on revver.
download: Windows (wmv) : PMP (mp4)
subscribe: wmv or mp4