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One good converter I have found is the Winff but it requires ffmpeg that needs the libx264 pack for the MP4 = psp stuff.
So here is the the command for the download
urpmi 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 libavutil
urpmi ffmpeg -a
I am running Mandriva 1010.1 and very satisfied !!! I have tried prog called Avidemux but I got some problems installing it withe faac1.8 (faad2.7)
So here is the the command for the download
urpmi 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 0.6-0.21383.2mdv2010.1 libavutil
urpmi ffmpeg -a
I am running Mandriva 1010.1 and very satisfied !!! I have tried prog called Avidemux but I got some problems installing it withe faac1.8 (faad2.7)