I used a lesser known but free software called Tmpgenc last year. Makes MPEG-1 in either PAL/NTSC. Not the easiest software to use, but it's free and does what it's supposed to do. I was happy with it... Not sure if it took wmv as input tho. I might have had to convert wmv into AVI first. Explore yourself: - http://www.tmpgenc.net/