Nick Swardh has released a new version of PSP Video Converter a video converter for PSP:

Heres whats new:

A new version of FFmpeg and Avisynth has been added
Improved internal commands for increased image quality
Added support for .ass/.ssa subtitles (Substation Alpha)
Improved "UPLOAD" feature
Added a PSP-n00b folder check, if the VIDEO and/or MUSIC folder is missing, it will automatically be created on your PSP before upload
Added video-download stats showing the progress in MB
Fixed a video-download bug that caused PSPVC to crash
Fixed an AUTO-resolution bug
Misc small improvements + a small facelift as a little extra

Download --> http://pspvc.nswardh.com/pspvc.php