Things I Love
HandBrake for converting (format shifting) my DVD collection to QuickTime files so I can watch them on my iPhone.
320x480 or 480x320 depending on how you hold it is the magic setting to optimize your videos for the 3 1/2 inch monitor.
Also in HandBrake, I notice no flicker down converting to 24 frames per second and unless you're watching something with subtitles 300mb file size looks as good as larger files. There's no need to waste valuable real estate on my puny 4 gig which is really 3.64 gigs.