With videolan i noticed that i can capture the desktop... but i can not capture running opengl applications. So i created something for this in a win32 dll usable for vlc (yes win32 only). Just did some changes in win32.c located in access/modules/screen/
No more fraps needed then, can be done by vlc... I use this for streaming a running opengl simulation over the network.
Would be nice to add this to integrate this in the VLC gui and future releases. Any developer want to take this task?