I don't know if fraps actually caused the crash, but thought I'd mention it. I played 15 hours with no problems, I decided to play around with vsync and shadows to improve frame rates. I lowered shadows to high settings, I enabled vsync, I ran fraps. I did this for 10 minutes, then turned off vsync again, left shadows at high but continued to run fraps. Within 30 or so minutes the game CTD. Related? Maybe....
With Fraps ver: 3.4.2 - Have not tried newest released and probably will not bother after reading your post.
If I run the game with Fraps the Skyrim launch window opens ok as does the splash screen for starting a new game, but after clicking new game and confirming by pressing the enter key my screen goes black for a bit then blue screens.
If I run the game without Fraps open the game starts as expected.