And that's the only part where you would be losing information.
So, if I fill in a video from a camera recorded instead, you see that the video would still display the same in the Original Format and the Raw Format.
Here, it would display the same in the FRAPS Format and the Raw Format, no loss of quality.
So, I fail to see how FRAPS encoding is relevant.
The only thing that would be relevant is the need of having the codec to decode it.