Does anyone know of any other video capture programs like fraps? ... minus the spikes, large files, etc.

I've been actually looking everywhere and asking a lot of people and I too have not had any luck yet

well i know you can use xfire to make live streaming/video capture.
but it requires quite much space. here's example.

Settings:
Frames: 30
Half-Size
Record Sound [x]
9 sec video
19,9 MT

Link to quality with current settings:
http://www.taustamaailma.com/videos.rar


without sounds it doesn't really make a difference so i'm not sure i can prefer this program if you need to make long videos/upload to internet. But quality with 100frames/full res is good but it consumes too much space. But i like to use it sometimes in my games so i can watch them later and analyze what goes wrong.

Not sure about spec's requirements but i don't have any problem with it.

Manufacturer: Acer
Processor: Intel(R) Core(TM) i7 CPU Q 720 @ 1.60GHz (8 CPUs), ~1.6GHz
Memory: 4096MB RAM
Hard Drive: 483 GB
Video Card: NVIDIA GeForce GT 240M
Operating System: Windows 7 Home Premium 64-bit

Wow, I don't have the hard drive space for that.

I've been told that when capturing video of High level competitive gaming theres usual 2-3 Computers or servers just compressing all the data from the Video because of the huge amount of space it fills before being compressed.

WoW I cant wait to see this for my own son. Its scarey but also so amazing. You & your child go through so much to get to this point. All the sleepless nights & work to keep them well. Its non-stop. The final moment is almost surreal. Congratulations Just great