* Fast conversion from nearly every video format to iPod, PSP, DV, DVD, AVI, MP4, WMV, MPEG and Flash.
* Convert any file in three steps. Click, drag, click.
* Fit up to 18 hours of video on one DVD. Play it in any standalone DVD player.
* Xgrid support. Use the power of every Mac on your network for batch encoding.
* QuickTime Pro or special plugins not required.
* DivX/XviD AVIs, all forms of MPEG video, and many other formats QuickTime struggles with are supported.
* Batch Processing of multiple files. Save in-place, or to a different folder.
* Very comprehensive Advanced panel to modify every aspect of encoding.
* Dynamic Preview - See results before beginning a long encode.
* Stitch multiple files together to combine videos.
* Highly detailed, informative Users Guide.
* Universal Binary for PowerPC and Intel Macs.
I haven't tried it yet, but it looks quite promising.