OK plain and simple go here: [Only registered and activated users can see links. ]
Scroll down and download Ojsoft.
And when it asks for activation Key put that one in. It should be activated. This in my opinion is one of the best video converters out there.
One of the reasons being it has profiles for what you want. Say for psp alone it has 4 diffrent qualities. There is economy(for you with thoses 512 mb cards) Standard(oh yea baby upgrade) High quality, and the Ultimate psp 720*480 quality.
It'll turn any type of video file to any other. Wether you use [Only registered and activated users can see links. ] to d/l a youtube file and convert it for a psp or have a file tht you want to put up on youtbe and convert it to a flv to save like 10 mins of uploading time.