Compress videos from FRAPS into smaller files-sizes

[torchi12]

Fraps create HUGE files, so I downloaded Virtual dub - where I could go into the option - Compress -> Xvid and the file would go from 3,95 GB to 175 MB with minimal quality loss.

But I would also be able to add effects, like fade in and fade out.
And I would prefer a program that could take advantage of a Quad Core CPU.

Does anyone know a good program?

[tiliam]

VirtualDub can do fade in/out and other effects; it's not only for transcoding.