Then suggest you check out WinMPG Video Convert v3.1 . I have never used it so I'm not sure if its what your after exactly. http://www.winmpg.com/
"WinMPG Video Convert is a complete solution for video file converting. It supports conversion AVI to Mpeg-1, AVI to Mpeg-2, AVI to DVD, AVI to VCD, AVI to SVCD, all media format to DivX, and all to AVI. WinMPG Video Convert is an easy to use media file converter, with beautiful user interface that multi-skinned. It supports almost all video file formats, including AVI, Mpg, Mpeg, Mpeg1, Mpeg2, Mpeg4, VCD, SVCD, DVD, DivX, ASF, WMV, and QuickTime MOV. Preview support."