Most important component for FRAPS-ing with no LAG!

is this lag not noticed in game? what kind of games are we talking about? your system isn't equipped to run most modern games, nevermind doing screenshots/videos during them

remember also, since you only have one hard drive, likely a 5400rpm, the pc is using it for the OS, plus your running programs, the game, and then the screenshot/video, this will obviously slow things down quite a bit

The main issues with FRAPS is attempting to record above 30FPS. 30FPS is pretty much all you'll ever need for most video outputs.

Next, recording to the same hard drive you are using is terrible, FRAPS is very write intensive ( duh ). Having another internal 7200RPM large hard disk is important. Any hard disk that scores high in write levels is optimal.

Your HD appears to be a low end model so recording at even low resolution can be difficult.

A faster CPU and RAM are also important since FRAPS performs a small compression instead of a raw format.

The Xfire recorder I have found to be very efficient without sacrificing too much quality.

Actualy my system is equipped to run most of moder games.. 2x 2.13, overclocked on 2.33 Ghz isnt that low   HDD is on 7200 rpm not 5400, and graphyc card is supposted to be pretty good gaming card... i talk about World of Warcraft , "wow"   And i got lags in the game while recording... i think i got the point, i need another bigger HDD.... BTW i was thinking about 2 HDD-s in RAID 0... thats cool... but meybe next time... AND... there is pretty high chanse for FAIL RAID 0  

I think your problem may go deeper then just hard drive the GT220 is a very slow card and your CPU is slow for modern gaming even wow. Also how many other programs do you have running while playing game also how many services and background programs do you have starting up all of these will contribute to lags. I would suggest first bump your RAM up to 4 gigs and check how many programs you have starting up.