Why does Fraps lag when I record Minecraft?

I don't understand why this happens, I get lag spikes during recording and when viewing the completed video the lag is 10x worse sometimes dipping as low as 10 fps despite having what I think is a fairly powerful computer. I have dedicated more RAM to Java which had no impact. I even turned Minecraft's video settings down to near the lowest and still got the same amount of lag if not worse. I would really appreciate anyone's help with this problem. My computer specs are:

Processor: Intel Core i7 3770K 3.5GHZ

RAM: Crosshair 8GB 1600MHZ (4GB dedicated to Minecraft)

Motherboard: Asus p8z77-v lx

Hard Drive: 1TB Seagate 7200RPM (250GB Free)

Graphics Card: HIS 7970 IceQ GHz Edition 3GB GDDR5 PCI-E DVI/HDMI

Note: My PC is well cooled and suffers from no other issues.

Guest

Fraps writes a lot of data to your drive while recording. If you have another hard drive besides the one that your OS and game are running on, try recording to the other drive instead.
Instead of Fraps, try Bandicam and see if you still get the same problem - Bandicam encodes the video while it records and therefore saves much smaller files! If the problem is the amount of data being written then Bandicam should resolve it!

Karl