I used to use Fraps, due to how easy it was. But, due to lack of space I wasn't able to do much recording and uploading. (At my internet speed, it would take almost all day to upload one 15 minute video from Fraps.)
Now, I use X-Split Broadcaster, which is a free recording program that has a premium service. In my opinion, it's a lot better then Fraps, as not only can I record locally, but it has built in stream services that can connect to pretty much any live stream service. Not only that, but it also compresses your videos as your recording, which makes them a lot easier to upload. (It takes about 10 minutes for me to upload a video, and to get it live using X-Split.)