I've been recentely trying to use Fraps to record FO1 gameplay, it will record FO1 but very very slowly, I have no problem with other games. Do I need to download some directx thing or am I screwed?

I'm surprised you've even gotten it to work at all. Fallout 1 and 2 use DirectDraw, while FRAPS was mainly designed for Direct3D Applications. If you are having trouble recording, try a different program, like Hypercam?

You could also try sfall as it allows both fallouts be run in DirectX9 mode (as well as windowed mode). Hovever according to documentation it'll show movies completely corrupted in Fallout 1 and slightly so in Fallout 2.