use a different program IMO, fraps is not that grreat.
Any suggestions until shadowplay is out ?
Ignore him. I use fraps, it's great. Just disable that watermark yeah?
Also, you should host your GIFs on either Sta.sh or Flickr. Minus likes to load at a snails pace.
What program are you using to create the GIF? Let me offer a couple recommendations.
Framerate - Aim for 0.03ms frames or 0.02ms frames. 0.03 is 33fps and 0.02 is 50fps.
Dithering - GIFs are limited to 256 colors, but that doesn't mean it has to look like it. Dithering emulates more colors by basically arranging the colors of pixels to look like shading. Here's an example.
Source image
Undithered image using 4 colors
Dithered image using 4 colors
You see how there's a lot more visually similar to the original in the dithered image. That's using only 4 colors. When using many more, it's not anywhere near as noisy and looks incredibly close to the actual screen you'd be seeing when playing.
Cropping - Just cuz you're playing at 16:9 doesn't mean your GIF needs to be. You should try cropping the GIF so that the unimportant stuff isn't there anymore. It'll cut down on the file size immensely and allow you to use higher framerates or more colors while keeping size reasonable.
And if you'd like some recommendations for programs to make GIFs, you should try out VirtualDub (It's free and fantastic) or if you've already got it then Photoshop is perfect for it.
If you've got any questions just drop em on me and I can try and help.