Well you can set FRAPS to record in a secondary HD (not the disk where the game and the OS are installed in example), i have used this with great results so far, at 5040x1050 full resolution 30 FPS.
Absolutely, but what I'm saying is unless that storage device can write at the rates that fraps records at you won't get the actual 30fps, its okay for shorter clips where it can just keep most of it in spare ram until you're done but for prolonged like 30 second + captures you need a disk setup that can write that fast, even 10Krpm disks can't get much beyond 100MBps alone, you need some sort of raid or a high end SSD to pull it off (at full resolution).