You can use MPEG Streamclip to: open most movie formats including MPEG files or transport streams; play them at full screen; edit them with Cut, Copy, Paste, and Trim; set In/Out points and convert them into muxed or demuxed files, or export them to QuickTime, AVI, DV and MPEG-4 files with more than professional quality, so you can easily import them in Final Cut Pro, DVD Studio Pro, Toast 6 or 7, and use them with many other applications or devices.