I bought this application for the single purpose of converting MP4 files to FLV files. I wanted to keep the same quality as my originals, so I left all settings at "same as source." The output looked atrocious — like a JPG photo with compression set to maximum (poorest quality). The Bit Rate of my MP4 source file was 3000, and as stated, I left it set to "same as source". When I checked the settings under the "Bit Rate:" menu, I saw that it only goes up to 1000. I re-converted the file, changing the Bit Rate to the 1000 max. The quality did improve dramatically, but still contained compression artifacts that were not acceptable for my needs. My source files dimensions were 720x405 resolution. I suspect that a lower resolution file may compress better at a Bit Rate of 1000. If you are a non-professional user, converting low resolution movies, this application may fit your needs. However, if you are discerning about quality, or if your files are larger than 640x480 in resolution, this application may not be sufficient.
NOTE: I only testing exporting MP4 files to FLV files, so my results may not reflect results of conversion between other file formats.