I need to know If I'm doing something wrong or if my computer just plain sucks
I have:
ATI Radeon x1650
2046GB Ram
Windows XP Home Edition

If there's any more information required ask and I will post as soon as possible.

what is it about making videos your having problems with

My fraps has an incredibly low fps.
16 or so. I even checked the recorded footage, which was also slow.

Just try to use first hypercam.

No idea what you mean.

Hypercam is an other screen capture program. Here is the link:
http://hypercam.softonic.de/download

Don't use Hypercam, it sucks.

FRAPS always records at a low framerate. Put it into a program like Sony Vegas which will smooth it out by speeding it up or something.

Click the button that says something about syncing.
It will adjust the video speed for lag for you.

Sorry, but does the actual footage you record have low fps or do experience low fps while recording or is it both?

What are you trying to record?

Do not ever use Hypercam. If you create a troibash video in hypercam i will track you down and slap you