For those of you running Linux (and this may be old news) I was searching around and found Arista Transcoder. This program allows you to convert your videos/movies for device specific support. I was delighted when I downloaded it and was imediately notified of a new update: Support for Android devices!

Current supported devices (though Id imagine it would work on any android device)
Android:
Droid 1/Milestone
Droid X
Samsung Galaxy S
Nexus 1/Desire
Samsung Spica/GT-I5700/Lite
G1/Dream

I use K9 to rip them to the computer then Arista to convert them. Maybe Im doing it the long way but Im a newer Linux (Ubuntu 10.10) user so this works for me! lol