Hi ...
You use FSRecorder ... it records not "visuals" but "data" from FSX. When you play back what you recorded, you can change views, angles, anything you like ... just like the instant replay, you can look at those last 60 seconds any way you like. But FSRecorder goes on as long as you like.
Then comes FRAPs ... you play back what you recorded on FSRecorder with FRAPs turned on. Now, as you change your views, etc, FRAPs records what it is seeing on the screen. Then there's another step. WIN-7 Movie Maker ... a freebie. You then grab the FRAPs recording and put it into Movie-Maker. Here you can edit, cut, paste, add titles, etc.
So there are sort of 3 steps. Hope this helps.
D