Griffith over at Forever Geek pointed me towards the latest release of Handbrake which is now not only multi-platform, but also features AppleTV Support!
I will be trying the software out tonight for a 30 Days of AppleTV post, and I’ll let you know what kind of luck I have with conversion times, but for now, you can check it out for your self by clicking here.
CES: Where Everybody Wants to Be Apple™