Windows Media Player Lags w/ Fraps Video?

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So let's set aside the error I often encounter with WMP that says "server execution failed" and which seems to have no fix, and look at the simple task of video playback. I record Fraps on a 1080p monitor at anywhere from 30-60fps. When I go back to watch footage, it often lags and is unwatchable. I can click around and sometimes it will play smoothly for a bit, but then it's back to lagging. It's rather annoying. How can my PC record this stuff, yet fail to play it back?

Intel Core i5 2500K OC @ 4.0GHz
Nvidia GTX 670 Superclocked + 4GB
 
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I could do those, but how come WMP won't work as intended?

VLC is a bit better at playing them back.