From Essien Research & Development:
DirectConvert is a media-conversion tool that converts your video files to MPEG-1 or MPEG-2 (in standard or in DVD, SVCD, and VCD formats), to AVI format (including DivX), and to the WMV/ASF format (allowing you to use a pre-defined profile or to define your own profile). You can convert your audio files to MP3, WMA, OGG, AC3, or the uncompressed PCM format. In both audio and video conversions, you can specify specific ranges (time values) of the video or audio files. DirectConvert allows you to convert from many input formats, including Real Media, Ogg Vorbis, MP3, MPEG, AVI, ASF/WMV, and WAV, as well as any other DirectShow supported format.