The FRAPS thing is just for the quick and dirty feedback it provides with whatever random game you are trying to run as well as the video screen capturing. I like to overclock and there are plenty of games and OSS driver tweaks that can make differences good and bad. It's most defiantly not a be all end all, but it doesn't have to be but having feedback on what your OC is doing for performance in x game as far as improvements and temps.
It's also a shame Linux lost those 3rd party tools for GPU overclocking like Rivatuner and ATI Tray Tool. On Linux NV/ROclock where never that good and quite unstable up till the day they where abandoned. PTS is a poorman's version of GPU-Z and CPU-Z for system information not getting you half of the data that those give you.
But yeah, we gotta hope that Steambox takes off, I'd love to have some good RPGs in the JRPG style, mecha in the Armored Core vein, fighting game in the Bushido Blade(tons of weapons, sprawling arenas and crippling and bleeding out wounding abilities, shank em' with a rapier or spear in the belly and knee and run away) or King Of Fighters 2D era styles, stealth combat in the Metal Gear Solid style and Rocksmith or similar real instrument game/tutor.