Hito- When you get Virtualdub, you can reencode just the audio track which is extremely fast. Go to video and select "direct stream copy". And Then select audio>>>full processing and select your audio compression.
Hit "save as avi" and watch virtualdub go at mach speed. Its the fastest video processor I've ever seen!!
btw- as far as i know Apple still hasn't gotten rid of a compatibility error with mp3 as an audio codec. And for some reason they aren't in any hurry to fix it. You can play normal mp3s songs I believe, but not an video with mp3.
(And you thought only Microsoft did this kind of stuff :/: )