1. Full version does not have a time limit, but it does have a file size limit. After recording a file that is about 4 gigs, it will start a new file. These files can be seamlessly joined without a dropped frame.

2. That is not normal. I have not encountered that problem before.

3a. I can open both in windows media player and sony vegas movie studio. I can also open the AVI files in windows movie maker.

3b. The sound is sometimes out of sync in the fraps avi files. There is an issue with playing these large AVI files in windows media player where the sound get more out of sync the deeper into the file you play. It will start out fine, but then get more and more out of sync as time passes. This is an artifact that will be corrected when you encode the video. If encoding in windows movie maker, you want to cut the files down to smaller pieces. Sometimes the sound is offset by a constant amount. I often find that the sound comes in 300 or so MS before the action in the video. You can fix this in virtual dub.

possable solutions (in no particular order):
1. make sure you have enough room to record. The larger the screen res you are recording at the larger your file will be for the same time frame. Each file will be about 4 gigs, for some, that file will be 1 min long, for others it will be 8 minutes long.

2. reinstall fraps.

3. uninstall any custom codec packages you have installed. custom codecs can interfere with vegas or windows media player reading the avi files.

4.try lowering the settings at which you are recording. It could be that your system is just too taxed by fraps and it is running into errors due to a lack of memory and cpu resources.

5. post this question on the fraps forums. People there have a reputation for being helpful. Also contact thier customer service. You payed money for the software, they are obligated to help.
2.