Well downloaded the trial version and put T3 in and set it to record at 29.97 fps with a bit rate of about 700kbs, set the output file and pressed record and it automatically decodes and sends the file to the card in the psp(attached).
Being a trial version it only allows the first 5/10 mins to be decoded.
Audio/pic quality fine.
There seems less to do in this prog compared to pspvideo9 but perhaps more options/settings are available on the upgrade.
First impressions are that it is easy and simple to do and of course only one program needed.