Archiving dvr-ms files

[Stu_B]

I have a handful of tv programs that I've recorded that I'd like to keep for a little while but would like to convert them to a slightly more space efficient format.

What are peoples favourite formats (divx, xvid, wmv etc)?

What is the nicest and simplest way of doing this, ideally from inside MCE?

I've had a quick play with the plugin dvr2wmv and that seems a bit buggy and the output doesn't seem to be brilliant or that small. What quality settings do most people use for things like this?

I don't mind a little drop in quality but would like to keep the normal resolution.

Also are there any decen plugin for stripping out adverts from programs?

Cheers

Stu