Free FLV Converter
Excellent
Full user review
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"Can't carry its weight."
Pros
Easy to use.
Cons
The conversion options window and its dropdown menus are tiny. No advanced options. Can't use external encoders. Can't select iPhone or iPod from the dropdown menu. I'm assuming the Video codec MPEG4 in format Mp4 is H.264...?
Summary
It's great if just want to transcode quickly, but there are smaller apps out there that do the same thing and much more.