From their site: "It's a free video converter for Mac & PC. It converts avi, saves flash .flv, crops video and more! It even works with audio and image files so you can convert wav to mp3 and transform jpg files! This tiny freeware program lets you quickly and easily change any file type to any other file type."
We gave it a test run ourselves and the conversion process was quick and painless. It works very much like Handbrake, another media conversion tool we've used in the past, but works much faster than anything we've ever seen. On the other hand, it doesn't treat HD files very well and acts sorta tricky when it comes to files like MKV (in which case it goes as the same speed as Handbrake). If you need to work with MKV files in particular, we recommend using this tutorial or using EncodeHD (Windows-only). Best of all, it's completely free. You can download the app over here.