Converting video file I usually use TOP Video Converter Standard, because it helps me convert various videos to AVI, WMV, MPEG, MP4, FLV, MKV, RM, 3GP, 3GPP2, MOV, SWF, and extracting AAC, AC3, MP3, OGG, RA, WAV and WMA from the videos..
So I can watch my ripped DVD movie and videos in the compatible format on my portable player like iPod, iPhone, etc. conveniently. it can clip your favorite segments freely, customize the output parameters, etc
Hope it is helpful for you, good luck.