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Where's Fat Albert?

Fraps is one way. There are a couple of other programs out there but its early in the morning for me and I forget their names. They all take up HUGE amount of space though. The larger the screen res is, the larger the files. I do 1920x1200 and its something like a gig of space for a minute of video.

So far that I have seen, Fraps is good but it does have its issues. It does churn out higher quality recordings than most of the others though. Sony Vegas is a really good program or so I have been told ( have not used it myself )

I will say this, if you intend to use fraps. Get a program for compressing the video. Like VirtualDub or something along those lines. Sites like Youtube do not really like large file sizes, so using the program like I mentioned helps reduce the size of the file and makes it easier to upload it. Though you will have to download a proper codex to use with it if you want a good quality video. I am sure there are better people than myself out there who could give you advise as I am still fairly new at the stuff myself.. That and I do not have access to the bigger programs like Sony Vegas. ( Expensive as hell.. )

Edit
Since you mentioned Steams in-game recording system.. I have yet to try it due to the fact that I have fraps. You could also try Raptr's recording thing as well, that one I have yet to try myself either but I know they have one now.

Hmm. I'd be interested to know as well. I guess Raptr might work but I haven't tried it.