Someone on Doom 9 touting this:
Most of what he said sounds good, except possibly this part: "...comes with all Codecs you need built-in ". Show me encoding software that has built-in codecs, and I'll show you software whose codecs are out of date :D. It will be fine if Avidemux is constantly updated; however, non-commercial projects like that rarely are.
It uses lavc, so the usual ffmpeg project stuff (http://en.wikipedia.org/wiki/Libavcodec). So I'd guess it's as updated as the other projects that rely on that if you find someone that does builds regularly.
I personally used it for cutting/splicing of mp4 without having to reencode everything. Yes, you can do that with yamb as well, but using a gui slider is easier than entering timecodes.
It also apparently can handle vorbis audio encoding internally, eliminating the need to mux out the audio, encode the VBR audio, and paste it back in, like with VDub (or, alternatively in VDub, use an inferior fixed-rate audio like CBR).
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