http://vixy.net/

works perfectly, and fast. just tested it with this:

http://www.youtube.com/watch?v=i5i3-8RWvFA

This service allows you convert a Flash Video / FLV file (YouTube's videos,etc) to MPEG4 (AVI/MOV/MP4/MP3/3GP) file online. It is using a compressed domain transcoder technology (outline in Japanese). It converts FLV to MPEG4 faster and less lossy than a typical transcoder.

When you submit a URL, it will download and convert to the video format, and then you can download the converted file.

Very cool, someone was just asking me about this earlier, if I had the know-how. Thanks.

Also, now I can go and save those old Labatt 50 commercials from 1983.

and this http://www.youtube.com/watch?v=Vsg97bxuJnc

Awesome.