The FAA defines levels of both Flight Training Devices (Levels 1-7) and Flight Simulators (Levels A-D) based on how completely they emulate the aircraft. Flight Simulators can be used for some or all required time in the aircraft, and can be used for checkrides instead of the aircraft. FTDs are only used for non-logged training and proficiency flights.
I'm not sure what level the Frasca is, but it is only a FTD, not a full simulator. Full flight simulators have motion systems to help simulate flight, and the most advanced have what is called "six degrees of freedom", which means they can move in pitch, roll, yaw, heave, thrust, and sway. The main difference between Level C and Level D is the visual system. The visual on Level D sims is more panoramic- something like 200 degrees wide and 60 degrees high.
This Frasca FTD probably costs around $100,000. Most modern flight simulators cost around $20M.