Need suggestion to convert flv

[alegator]

Hi, I recorded some live streaming video with StreamTransport and it generated an flv file (720p format, see below for details exported from Mediainfo ) . I want to preserve the same format (lossless conversion) but archive it in a more friendly type like mp4,mkv,avi, etc. What file type and video converter do you suggest? Thanks

General
Complete name: WN4inXNbM_1.flv
Format : Flash Video
File size : 470 MiB
Duration : 19h 56mn
Overall bit rate : 54.9 Kbps

Video
Format : AVC
Format/Info : Advanced Video Codec
Format profile : Main@L3.1
Format settings, CABAC : Yes
Format settings, ReFrames : 3 frames
Format settings, GOP : M=4, N=125
Codec ID : 7
Duration : 19h 56mn
Bit rate mode : Constant
Nominal bit rate : 2 000 Kbps
Width : 1 280 pixels
Height : 720 pixels
Display aspect ratio : 16:9
Frame rate mode : Variable
Frame rate : 25.000 fps
Standard : NTSC
Color space : YUV
Chroma subsampling : 4:2:0
Bit depth : 8 bits
Scan type : Progressive
Bits/(Pixel*Frame) : 0.087

Audio
Format : AAC
Format/Info : Advanced Audio Codec
Format profile : LC
Codec ID : 10
Duration : 19h 52mn
Channel(s) : 1 channel
Channel positions : Front: C
Sampling rate : 44.1 KHz
Compression mode : Lossy
Delay relative to video : 19h 21mn

[mgh]

Extract video and audio streams with Flvextract, use mmg.exe from Mkvtoolnix to mux them into a mkv container.

[alegator]

Thanks mgh, I already extracted video and audio streams with Flvextract as you suggested (I also extracted the timecode just in case). Now I have Mkvtoolnix open. I added the video and audio files with the "Add" button and i also added the timecode (txt file) in the "Timecodes" field. I then clicked "Start Muxing" and it generated an mkv file which is not playable.
mkvmerge.exe finished with a return code of 1 and the following warning:"Warning: AAC files may contain HE-AAC / AAC+ / SBR AAC audio. This can NOT be detected automatically. Therefore you have to specifiy '--aac-is-sbr 0' manually for this input file if the file actually contains SBR AAC. The file will be muxed in the WRONG way otherwise. Also read mkvmerge's documentation."
How do I specify '--aac-is-sbr 0'? Any suggestion? Thanks again.

UPDATE: I tested muxing without adding the timecode txt file and the generated mkv file is playable, however the same warning as before showed up.
Assuming this mkv file is healthy (ignoring the warning), I need to delete the commercials that were recorded. How can I do this?

[mgh]

Use avidemux both to edit the flv and convert to mkv (leave video and audio codecs at copy, change container to mkv)

To change audio or video settings in mmg, select the audio or video, and check out the options in the tab Format Specifications.

[Intel Core i7]

youtube is lossless quality, inst? Actually who`s watching that pixel going blured,nowadays? There were nasty commercials that say "nowdays no user minds one plasma pixel is black"-sonyc

[lordsmurf]

youtube is lossless quality, inst?

Hopefully you're joking.

Most Youtube videos are the very definition of over-compressed butchery.