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on-the-fly mpeg1 encoding for Hauppage WINTV-D?

I got in on the $50 wintv-d card deal awhile back, and was wondering if anyone could tell me the URL of a program (or programs) that can make the card record MPEG1 files on-the-fly rather than AVI files which then need to be converted. Thanks!
 
I had a Hauppauge 401 a few years back and it was not capable of capturing in mpeg format, just avi. I would have to use other apps to convert the avi to mpeg, which took a long time and defeated the purpose. I dumped this card for and ATI TV Wonder for this and other reasons. I am not a big fan of Hauppauge.

LJ
 
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