I thought it was only MPEG2.
Choice usually depends on use. Elementary streams (M2V video file referencing an AIFF audio file) used to be a standard intermediate video editor export format allowing the user to burn either PCM or AC3 5.1 audio DVDs. Multiplexed MPEG2/MP2 files in an MPEG container are commonly used high quality distribution/delivery of files destined for playback on a computer and are often used for cross platform exchanges. The only problem here would normally be a failure in the PC/Windows side to properly terminate files and avoid timecode breaks -- both of which are items required for correct QT playback -- but should have no problem going from a Mac to a PC. (QT playback also requires the QT MPEG-2 Playback component be installed for Mac use which then becomes a supported "playback only" format as far as the Mac is concerned.) MPEG2/AC3 files are not "natively" supported by QT but in the form of MPEG, VOB, or TS files can be played on a mac using multimedia players such as VLC (which, like the DVD player, allows AC3 "pass through" to an external decoder) or MPEG Streamclip (which does not support any "pass through").
Anyway, based on what you wrote next I understood that, among others, I can use FfmpegX to do the conversion. Am I right?
FFmpegX will create multiplexed MPEG files but will not create VIDEO_TS folders with BFO, IFO, and VOB files/images suitable for direct burning to DVD for playback on a commercial DVD player like iDVD or Toast.
Would MPEG Stream Clip also convert?
No, it cannot create MPEG-2 content. MPEG Streamclip will only convert between multiplexed MPEG variants, demultiplex them, or convert from mutiplexed variants to other compression formats compatible with QT as augmented by your installed collection of QT components.
