from Winnydows:

A lot of corrections and changes, almost new program.
Now the program can encode or remux audio and video.
Formats for the input - almost any format.
Formats for output - AVI DV FLV MP4 M4A MPG M2V TS M2TS MKV MKA OGG OGV OGA 264 MP2 MP3 AAC AC3 DTS AMR FLAC SPX LPCM.
DTS and LPCM only for copy stream mode.
Media encoder module uses DirectShow technology. You can add a DirectShow filters, various system codecs, adjust the parameters of each component.
If add ffdshow raw video filter possible used AviSynth scripts and functions, and all this without DirectShowSource problems and without long and useless indexing as in XviD4PSP and similar programs. Also possible use all ffdshow filtering funtions.
Also possible add ffdshow raw audio filter and use all ff audio filtering funtions, also this filter let work with WinAMP filters.
Possible change what system decoders use for decoding and tweaks a lot of decoding options.
If in FAT32 harddisk detected AVCHD folder with wrong file names, will be message "Do you want fix ..." (TsMuxer create BluRay folder for writing to UDF disk, but for FAT32 must be other file names). Usefull for play BluRay from FAT32 HD for PS3.
Possible encode or remux files from DVD or group files. Need open first file of group (for example VTS_01_1.VOB or MyFile_CD1.avi) and if detected friend files will be message "Do you want add files to task".
Supported interlaced and anamorph encoding. For codecs x264, XviD, DivX, ffdshow interlace options and SAR aspect auto added to codecs settings.
Thumbnails are now created video files too.
Added tooltips for files and folders. For folders calulated size, for the photo files reads EXIF data, for the media files are show media information (codec, streams, etc.) for other files is given the size and creation date.
The main window is no longer tied to the system style windows.
If you have installed codecs for RAW image formats (CR2, DNG, etc.) and they will now show thumbnails, EXIF. This formats also will valid for photo converter.

Warning: MP4 and TS is not yet working with the codec x264.