I watched a tutorial and it seemed as if the highest framerate was 20 FPS. Has anyone used this program? What are pros and cons? Better Alternatives?

yes its an incredible program.

i used it for a recent show i presented at the Digital Media Festival here in Sydney.
Basically i used its regioning to record elements of Vegas and used those within the project.

It uses the camtasia codec for avi (which works perfectly in Vegas.. i cant say anything about the other editors as i havent tried it on them)

As for frame rate, i set it to 25fps before i recorded.
i then went into record mode and set it up to record whatever region i selected. The highest ive gotten it was a full desktop without any problems,

I was running a p4 2.4 nonHT with 1gb ram