In its current form Fraps performs many tasks and can best be described as:

Benchmarking Software See how many Frames Per Second (FPS) you are getting in a corner of your screen. Perform custom benchmarks and measure the frame rate between any two points. Save the statistics out to disk and use them for your own reviews and applications.

Screen Capture Software Take a screenshot with the press of a key! There's no need to paste into a paint program every time you want to capture the screen. Your screen captures are also automatically named and timestamped. Learn more.