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Showtime Mobile does'nt work all too well but Nero Recode does work extremely well, you might be able to get a tad bit better from Xvid or Divx but not at the Speed (Even in two Pass) that Recode offers, but it's $30 , so for Free I'd Recomment Downloading Xvid 1.1 and Avi.net, fairly fast and really simple.
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