Just thought I would post this:
http://www.xmpeg.net/
I used version 5.03 to put Resident Evil on my axim storage card. I did it at slightly the wrong res 340 as opposed to 320 width. The file size was just over half a gig. I used core player to watch and the result was fabulous

It's free and it's easy...just remember to go to the configuration menu and find a drop down list, which states the file will be 29fps ntsc and change it to pal 25fps (otherwise you will get lipsync problems) and you're away!!!
