Check it out http://discussions.apple.com/thread.jspa?threadID=316185&tstart=0 I am a fresh man here and like to contribute something to the forum, i followed this guide and it works perfect for me.
The link provided was to a post in the discussion forums. And no, the only converting solution that apple offer is quicktime PRO, which, strangely, you have to pay for it!
nope, doesn't do DVD's. and it costs GBP19.00 Take a look here for more info http://store.apple.com/Apple/WebObj...4E6RU2yAdD0F1giG6B6H/0.0.19.1.0.8.25.7.11.1.3