That's why, unless there are mitigati circumstances, I always recommend shooting 23.98. 23.98can easily be converted to 24 (and therefore 25 & 50i using pull down) and 29.97. It's the best compromise for a "filmic" look.
However for using fraps, 23.98 might not actually capture the feel of what you're doing. and you might need to go 720p60 for some video games.
30p though should be easy to covert to 2997 in compressor, just use the "set so frames play at 2997" setting.
And the reason that NTSC is 29.97 and pal is 25 is because the US' electricity grid is a voltage thing. Original analogue tv's had to run at the fraction of the timing that your voltage did. And because ac power in the US is not quite 120hz, hence 5994i, 2997, and a much later hack to get film's 24fps to 29.97, 23.98... Europe design PAL much later and was able to create a higher resolution system.
Joseph Mastantuono
http://www.goodpost.net
Color Grading & Post Production Consulting