From Ars Technica

*Highlights:
Main Page

What's new in this version?
Extract clips from any DVD-Video and convert to the format of your choice**
Save web video to enjoy on TV and on-the-go
Save streaming web video from your favorite web sites and burn to DVD for viewing on your big-screen TV.
Easily convert web video to other formats for playback on the portable device of your choice and enjoy it anywhere you go.
Easily grab video highlights
Extract video clips from your home DVD movies** and convert them to view and share on the playback device of your choice.
(with a "lite" NLE that looks like iMovie 4, but with the cutting power of MpegStreamclip)

Archive AVCHD camera footage to disc with a single click
Build your MP3 library with automatic capture and tagging of Internet audio
Convert audiobook CDs for playback on your iPodŽ
Transfer video from your Mac to your TiVo DVR to enjoy on your TV
Enjoy over 20 new stunning DVD and Blu-ray Disc menu styles
Sync up folders bi-directionally - between multiple computers, folders or external drives

This may be a keeper.....!