I use AVS Video Converter about everyday. About $40 at
http://avsmedia.com. It's simple to use for small to medium sized projects, expecially if you are going to cut clips from a larger take, or need to do batch conversion.
I've been using it to cut clips for powerpoint presentations and re-encoding video webcast for better quality archives. It's even converted corrupted video that my $500 Vegas package couldn't handle.
I decided to get the superbundle for $80. You get all six packages (audio editor, DVD copy, etc) at a steep discount. I don't seem to get as much use out of the other packages.
Also, I use the Nero that came with my Sony DVD Burner. Like the other post in this thread, I love my Nero! I might eventually buy the full version.
Mikel