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Best Program to transcode .mpegs?

Woodchuck2000

Golden Member
I've got a number of TV shows in .mpeg format on my hard drive which take up about 300Mb each - I'm planning to transcode them to divx at some point to cut the file size down without losing too much quality. What programs would people recommend that I use?
 
mplayer cames with a tool amazing called transcode, it also has mencoder which is great encoder. It's all command line, but it works great.
 
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