This service allows you convert a Flash Video / FLV file (YouTube's videos,etc) to MPEG4 (AVI/MOV/MP4/MP3/3GP) file online. It uses a compressed domain transcoder technology (outline in Japanese). It converts FLV to MPEG4 faster and less lossy than a typical transcoder.
When you submit an url, it will download and convert to the video format. Then you can download the converted file.
Now i can have my favorite Live songs in my Ipod. Cool Tool!!!