FRAPS is a beast and there's no getting around it. If you can assign your game to cores 0-3 and FRAPS to cores 6 and 7, that should help alleviate any issues with CPU utilization. Your motherboard does accept DDR3-1866 RAM so you may want to step up from the DDR3-1600 your currently have.
When I said, "The system looks fine", I meant I didn't see any glaring issues. Nothing about your build raised any issues for me (your power supply is fine). However on a closer look, it seems your case only has a single front 120mm intake fan. I would definitely add a 120mm rear exhaust fan. I prefer Scythe.
-Wolf sends