Recording a demo is your best bet for quality in source games, but if you don't want the extra hassle, Fraps is generally regarded as the predominant choice, at least as I have heard. I use fraps occasionally, and it works just fine.
The only freeware video game recording system I know of is Taksi. It's an open source recorder. I'm pretty sure the project has been abandoned for quite some time, and the program is quite buggy, but I have actually gotten some good stuff out of it far back in the past. I'd say Taksi is more trouble than it's worth though due to the bugs, and its lack of recent updates. Fraps would probably be worth it.