Unfortunately, that's not the way to go in this particular case. The OP stated the following: "A 20 minute medium resolution mpeg2 video takes more than 1 hour o my PC to convert to mp4. Thus i cannot use Handbrake for the purpose. "
In this case, using a third-party app with MPEG2 support is the right solution. Of the bunch, I recommend one of the following:
- It's Playing (it has tons of goodies like runtime DSP's; some screenshots of them: http://www.iphonelife.com/blog/87/new-star-born-great-multimedia-player-its-play ing-has-been-fixed )
- GoodPlayer (excellent player, it's only at playing back Full HD videos that it has problems with, compared to, say, AVPlayerHD / ProPlayer)
- AVPlayerHD / ProPlayer (the two share almost the same set of video decoders)