iPhone Optimized Video from FLV Fast with Freeway
With just a few clicks you can easily convert flash video to iPhone optimized video using Freeway.
This tool will do the conversion for you on the fly, gives you the choice between Edge and/or WiFi-3G versions, and even generates the poster board for you.
You start by either purchasing Freeway, or download a free trial first. The software is Mac only, and is a very popular WYSIWYG for web designers.