Question

I use Fraps + Photoshop to create the gifs. I simply start recording at a point where I can easily identify when the animation restarts, and record until I see that frame again. Then I import it into Photoshop, crop, and cut off all the unnecessary frames to give it a smooth transition.

I would not recommend using gif-creating programs or the ingame recorder, as they usually crap up the quality quite badly.

Also make sure to resize your gif scaled to a height of 150px, otherwise your gif will not animate on the equipment pages because large gifs don't animate on the wiki if they have to be resized by the wiki software.