Looking for an encoding guru here. Please help!
I want to upload 1080p HD content to Youtube that I have captured in Fraps.

As far as I understand it - I will get better quality if I don't reencode prior to uploading. Is there a limit to the size of Youtube uploads? According to their website there is a time limit of 15 mins length but no mention of size.

My problem is I have very large files to start with exceeding 2GB.
What is the best way to getting it smaller while retaining best Youtube quality?
Youtube also mentions 25fps for movies what about game captures?
What does Youtube end up encoding down to? I mean there is no point uploading 60fps if it all ends up 25fps right?

What software (multi threading/core) will be the best to reencode with for Windows 7 x64? Free if possible. What codec and settings if you have them.

Thanks!

You may codec the video and make it much smaller in size. I think the length upper limit is also size upper limit.