Windows Media Encoder Studio Edition is an application which is being developed and allows you to convert video files into WMV format.
It runs like other video format converters, you choose the video you want to convert and then it will be aocnverted into the desired format, in this case, always wmv.
It converts one video stream and several audio streams, which can be added separately.
It uses really new generation processes to convert those videos and it tries to be one of the best converters though it is a beta version.
A good choice but it has a handycap, it only converts into .wmv format.