There's nothing wrong with fraps. Jamme is an additional tool that can serve as a recording into avi's, but I prefer setting up the cameras with jamme while recording with fraps or dxtory. If you use jamme to record images into avi, you have to go through numerous annoying steps and sync the sound, which is an unnecessary hassle.
A few things that would vastly improve your videos. /cg_fov 97 /seta cg_thirdpersoncameradamp 1 /seta cg_thirdpersontargetdamp 1 These zoom out the view a little, to the maximum in public though in jamme you can use any fov you like so you can zoom out further if you want. The damps prevent the annoying sway.
Also, since you don't have cg_fov 97 (which should be standard in MBII btw, like the damps at 1), you might also find that rate 35000 snaps 40 and cl_maxpackets 100 are useful cmds when playing. If you have 80-100+ ping you can try /cl_timenudge -15 or 25 or smth but don't set it to beyond -50.
As for video processing, it's best to record in Fraps raw output aka no compression. Larger file sizes but better for quality. If your pc can handle it, I also recommend 60 fps and 1080p or full size instead of half size. Even if you eventually decide to shrink it to 720p, recording full size 60fps will end up producing a much crisper image. Also make sure you don't lower the bitrate below 10k in the video editing software.