Would be awesome if you get it included! Excellent work on Bandicam so far - it's far superior to Fraps / other alternatives when it comes to keeping up a nice FPS.
Yes, buffered mode is the one feature of fraps that still makes it better than anything else currently available for recording highlights footage. It's pratically a requirement for first persons shooter recording, because without it
1) You end up with dozens of gigabytes of unwanted footage, and
2) You have to wade through all that footage later to find the bits you wanted.
With the buffered recording mode you stop the recording a few seconds after something happens, at which point fraps creates the video file out of whatever is in the buffer. Then you start up your buffered recording again. You get all the highlights in nice small videos with no wasted space or wasted time. I bought fraps just for this feature.
You explained it much more eloquently than I could, thanks