One of the main problems with working with video is the large number of incompatible standards. I'm always looking for ways to convert video from one format to another. Clone2go is a well-reviewed application that has an impressive number of formats. Plus, it's free to use.
Oh, it also allows you to download YouTube videos. A nice feature given that YouTube videos are increasingly becoming a source for other videos. As Google continues to increase the quality of the videos on its site, I expect YouTube to become a great source of video content as well as a great hosting site for produced content.
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