-.built-in clipping editor
-Works on battle.net
-Intuitive sound effects
-Short demo window
-Minimal online support
I think that in terms of functionality, if the full version of guncam was free I might put it over fraps. But since guncam has a narrow demo window, if you're looking to stay legal and free, fraps has the superior demo since it does not expire--despite the cap it puts on the length of clips. I also like the sound effect it makes when you start/stop recording in guncam, even if it means you have to edit some clips a little more to remove the sound. And it's the only one I know of with a built in .gif maker, even if I never used that feature.
-Automatic upload of screenshots (for screenshots, Wegame wins because of this. This is just really great)
-'theoretically' easy upload of videos to their server without having to muck with youtube
-Uploading videos screws up... A LOT
-To join WeGame, you have to sacrifice an e-mail account, because they REQUIRE, as far as I can tell, your e-mail password too. So if you don't have a half dozen empty hotmail accounts sitting around like I do, be prepared to make one.
-WeGame crashes on battle.net
-Video capture with WeGame will often not work with Windows Movie Maker
Ultimately, I decided WeGame was more of a pain than it was really worth. However, the ease of uploading screenshots really is a saving grace that I can honestly say might make it worth it if you find using photobucket or the equivalent as much of a pain as I do.
-Works pretty much everywhere always
-Does not expire as far as I know
-Records directly to .avi in the demo
-Records only to .avi in the demo
-No online support for video/screenshots
-Cap on length of clip
Since .avi is really the one format that works with everything (windows movie maker/youtube) this generally makes a lot of sense to record to it directly. The only problem is that .avi is BIG, so you need to have a fair amount of space available and be ready to do some cleanup after a run of doing video with it. Also, it was really hard to be bothered to upload screenshots again after using WeGame.
BUT there appears to be a cap for the demo on the length of clips you can record, something like about 30 seconds. It makes it a little jarring, and I suppose that actually is a rather significant handicap. Still better than a "DEMO" tag on clips if you're past your Guncam allotment.