As FUNNY as this may sound and after testing MANY software, I found 2 software that stood up for their amazing special effects (not just cheesy wipes but 3D DVEs)
ArcSoft ShowBiz DVD (very cool effects, high quality codec, ability to convert almost anything to DVD, including quicktime, WMV, you name it...and it does a super job!) My only gripe is the mother****er uses CDDila and leaves traces of it, and it works fine for me. It PROPERLY converts to an interlaced format compatible with your TV.
2nd software would be Cyberlink MediaShow, the latest version also features very cool transition effects, easy to use and great codec quality.
I believe there is a FREE trial.